Armenia by the end of 2009 to attract international financial institutions credit amounting to $ 295 million to finance the budget deficit and the budgetary programs, the Minister of Finance Tigran Davtyan at a press conference.
According to him, negotiations with all major donors on this issue successfully. Among the organizations, which will involve credit, he called the World Bank ($ 60 million), the International Monetary Fund ($ 155 million) and the Asian Development Bank (ADB).
According to the minister, the ADB on Monday approved a loan to Armenia $ 80 million fully funds will be used to finance budget expenditures in 2009.
In addition, T. Davtian reminded of the Russian loan of $ 500 million
Minister added that in addition to the budgetary credits, Armenia expects to bring the 2009 external borrowing for the rehabilitation of infrastructure, irrigation, reforming the social sector and the economy.
According to the Yerevan Mission of the ADB, the loan for the $ 80 million will be granted for 24 years by 0.75% per annum, with a grace period for payment in the first 8 years.
In particular, according to the representative of ADB, the Bank in 2009 plans to provide another loan of Armenia at $ 60 million, which will focus on the restoration of the Yerevan-Batumi highway project in the North-South. This credit will be granted for a period of 32 years by 0.75% per annum, with a grace period for payment in the first 8 years.
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