German bank kfW will issue a loan to Armenia amounting 80 million euros for general budget support (for covering the budget deficit).
The draft loan agreement was approved during the meeting of the Armenian government on Thursday, November 9. The means will be issued by tranches of 40 million in 2017-2018. The interest rate for each of the tranches will be approved at the moment of issue.
The credit will be issued for 15 years, with a grace period of five years. In addition to this credit, grants for technical support amounting to 8.3 million euros will be issued.
