ARMENIA EXPECTS TO RECEIVE A LOAN WORTH $500 MLN FROM ASIAN DEVELOPMENT BANK

ArmInfo
2009-07-22 15:39:00

ArmInfo. The Armenian Government is negotiating with Asian Development
Bank (ADB) on attracting a loan worth $500 mln for the next four years,
Armenian Prime Minister Tigran Sargsyan told journalists.

According to him, the preliminary agreement on this has already been
reached. The loans will allow qualitatively improving the country’s
infrastructure and implementing economic reforms, the prime minister
said.

He added that at the moment the Armenian government has agreements
with the International Monetary Fund on receiving loan worth $720
mln for the next four years, as well as an agreement with the World
Bank on receiving $540 mln for 4 years, and an agreement with Russia
on receiving a loan worth $500 mln. The are all target loans as they
aim to solve specific problems, T.Sargsyan said. To recall, ADB has
recently approved provision of a loan worth $80 mln to Armenia. Armenia
became an ADB member in September 2005.

Its share participation in the ADB authorized capital is 10,557 shares,
or 0,301%, and the voting right is 24,266 shares, or 0,55%.