Armenian MP calls for setting up ad hoc commission to investigate effectiveness of loans
17.12.2015,
19:30
Naira Zohrabyan, an Armenian parliament member from the Prospers Armenia party, has called on her colleagues today to set up an ad hoc commission to investigate how effectively the government uses borrowed loans.
YEREVAN, December 17. /ARKA/. Naira Zohrabyan, an Armenian parliament member from the Prospers Armenia party, has called on her colleagues today to set up an ad hoc commission to investigate how effectively the government uses borrowed loans.
Speaking at an extraordinary session of the National Assembly, she said it is no secret that loans are often wasted, creating an atmosphere of distrust both among political forces and the public at large.
She said her party's faction will not back attraction of new loans until the ad hoc committee investigates how effectively the already attracted loans were used. She said many political forces believe that a sizeable portion of the borrowed money ends up in the pockets of some government officials.
The Armenian parliament discussed today a $300 million loan agreement with the Eurasian Fund for Stabilization and Development of the Eurasian Development Bank. The loan will be disbursed in three tranches each worth $100 million at 2.1% interest rate. The loan is repayable in 20 years. The grace period is 10 years.
According to the National Statistical Service, Armenia's external debt increased from $3.3 billion in 2010 to $4.1 billion in October of 2015 (up 24%). In 2014 the external debt decreased by 2.9% to $3.785.2 billion after the government repaid a Russian debt. -0-
Speaking at an extraordinary session of the National Assembly, she said it is no secret that loans are often wasted, creating an atmosphere of distrust both among political forces and the public at large.
She said her party's faction will not back attraction of new loans until the ad hoc committee investigates how effectively the already attracted loans were used. She said many political forces believe that a sizeable portion of the borrowed money ends up in the pockets of some government officials.
The Armenian parliament discussed today a $300 million loan agreement with the Eurasian Fund for Stabilization and Development of the Eurasian Development Bank. The loan will be disbursed in three tranches each worth $100 million at 2.1% interest rate. The loan is repayable in 20 years. The grace period is 10 years.
According to the National Statistical Service, Armenia's external debt increased from $3.3 billion in 2010 to $4.1 billion in October of 2015 (up 24%). In 2014 the external debt decreased by 2.9% to $3.785.2 billion after the government repaid a Russian debt. -0-
