Armenia to receive budget loan from World Bank

The Armenian Government has approved a loan from the World Bank in the amount of 92.3 million euros and a grant of 16 million euros. This decision was made at a meeting held on March 28.

The loan was allocated through the International Bank for Reconstruction and Development, which is a division of the World Bank.

The funds will be used to cover the 2024 budget deficit, while the Armenian authorities will have to comply with a number of conditions. In particular, they will need to improve legislation to combat climate change and corruption.