Armenia will borrow another 50 million euros as budget support
At today's meeting of the Government of the Republic of Armenia, it approved the ratification of the loan agreement between the Republic of Armenia and the OPEC (Organization of the Petroleum Exporting Countries) International Development Fund "Green, Resilient and Inclusive Development Program 2".
The agreement was signed in 2024. on November 12. "The goal of the project is to promote green, resilient and inclusive development in Armenia, contributing to climate change mitigation and adaptation, improving environmental management and energy efficiency, promoting human capital development, such as supporting the needs of the new vulnerable group of refugees from Nagorno Karabakh," the decision's rationale says. in.
The signed loan agreement, which creates additional financial obligations for the RA state budget, will be submitted to the RA Constitutional Court in order to determine compliance with the Constitution.
Deputy Minister of Finance Eduard Hakobyan was appointed as the representative of the RA government in the Constitutional Court.
After the CC, according to the procedure, the agreement will be presented to the National Assembly for discussion.
