Armenia to raise WB loan to finance budget deficit

At a meeting on Thursday, the Armenian government approved the signing of an agreement with the International Bank for Reconstruction and Development to raise a loan of 92.3 mln euro ($99.5 million) to finance the 2023 budget deficit.

Report informs citing the Armenian media that the loan is provided for a period of 19 years with a five-year grace period at a fixed interest rate (6-month EURIBOR) plus a floating spread (updated by the Bank quarterly).

The repayment of the principal amount will be carried out from June 15, 2028 to June 15, 2041 in equal installments (3.57% of the loan amount), and the last repayment will be made on December 15, 2041 (3.61%).