Armenian Finance Minister Vahe Hovhannisyan and Mathieu Vasseur, regional director of the French Development Agency for Eurasia, signed a loan agreement to attract a EUR 75 million loan under the budget support programme, Armenian media reported.
The aim of the programme is to support the Armenian government in improving the efficiency and stability of public service delivery and the development of the financial sector, the press service of the republic’s Ministry of Finance reported.
The programme has three main components – improving the public finance management system, strengthening the framework for issuing and managing state securities and money market infrastructures, developing new business financing instruments and ensuring more transparent governance.
The financing is part of a multi-year programme with the Asian Development Bank.
Meanwhile, the violent protests that raged in the republic for the second month in a row are gradually subsiding. Washington and Brussels have never condemned violent crackdowns on protesters, although they have otherwise reacted to such episodes without delay. Moreover, major US officials have visited Yerevan before each major rally.
