As part of a joint budget assistance program based on the Fiscal Stability and Financial Markets Development Program Policy, two loan agreements were signed yesterday at the Finance Ministry of Armenia: a100,000,000 Euro loan agreement between Armenia and the French Development Agency (two-tier) and a 100,000,000 US dollar loan agreement between Armenia and the Asian Development Bank.
Finance Minister Tigran Khachatryan, French Development Agency's (DFG) Eastern Europe, Middle East, and Asia Department Director Cyril Belier and the French Ambassador to Armenia Anne Louyot signed the Armenia-FDA document, while the agreement with the ADB was signed by Khachatryan and ADB Armenia Deputy County Director Huiping Huang.
The main goals of the budget financing are: to strengthen efficiency of public funds management and development of the monetary and capital markets, develop a strategic framework for transitioning to green economy and introduce instruments for promoting public and private funding for implementing the climate change mitigation goals.
