A loan agreement worth 75 million euros was signed on Wednesday in Yerevan by Armenian Finance Minister Vahe Hovhannisyan and Matthieu Vassier, regional director of the French Development Agency for Eurasia.
According to the press service of the Finance Ministry, the funds will be provided within the framework of the budget support programme aimed at assisting the Armenian government in improving the efficiency and stability of public services, as well as in the development of the financial sphere.
The programme consists of three main components - improving the public finance management system, strengthening the basis for issuing and managing state securities and money market infrastructures and developing new instruments for financing business activities and ensuring more transparent management.
The budget financing is part of a multi-year programme with the Asian Development Bank.
AFD (French Development Agency) has been present in Armenia since 2013, participating in projects that contribute to the fight against climate change, equitable and inclusive transition. The organisation is active in sustainable management and conservation of natural resources (irrigation, forests), urban infrastructure (transport, water, waste management, pollution control), energy transition (renewable energy, energy efficiency and energy sector reform), and public financial management.
