Armenia attracts loan to fill 2023 budget gap
19 years of indebtness starts
REGION 23 March 2023 - 11:52
At a meeting on March 23, the Armenian government approved the signing of an agreement with the International Bank for Reconstruction and Development to attract a loan in the amount of 92.3 million euros to finance the budget deficit.
As Caliber.Az reports, citing the Armenian media, the funds will be used to finance the deficit mentioned in the law on the state budget for 2023.
Relevant actions aimed at mitigating the effects of climate change, strengthening equality and developing human capital, improving the efficiency of the justice system and combating corruption have been outlined as a necessary condition for the provision of budgetary assistance.
The loan is provided with a maturity of 19 years with a five-year grace period at a fixed interest rate (6-month EURIBOR) plus a floating spread (updated by the Bank quarterly). The indicative interest rate established before the negotiations was 3.492% (2.822%+0.67%).
Loan servicing payments must be made every six months - on June 15 and December 15. The repayment of the principal amount will be carried out from June 15, 2028, to June 15, 2041, in equal instalments (3.57% of the loan amount), and the last repayment on December 15, 2041 (3.61%).
Caliber.Az
1
|
Triumph of sovereignty: Azerbaijan's quiet victory in the withdrawal of Russian peacekeepers Has & Verdiyan on Caliber.Az
20 April 2024 - 16:30
|
2
|
Unveiling Armenia’s motives behind lawsuits at The Hague From politics to policy
20 April 2024 - 12:35
|
3
|
Azerbaijan's diplomatic masterstroke: Return of occupied villages marks strategic achievement New geopolitical reality
21 April 2024 - 11:43
|
4
|
Early Russian withdrawal from Karabakh: how has Azerbaijan’s ‘calculated risk’ strategy paid off? Contemplations with Orkhan Amashov
21 April 2024 - 10:03
|
5
|
Armenia returns four villages to Azerbaijan, paving the way for peace in the South Caucasus Landmark accord
23 April 2024 - 09:14
|
French unions denounce Olympics volunteering as “disguised employment”
No pay, no Olympics23 April 2024 - 17:11
President Aliyev: "We want COP29 to be successful from point of view of tackling issues of climate change"
LIVE/UPDATED23 April 2024 - 17:04
Gaza Strip death toll surpasses 34,000
23 April 2024 - 16:52
Azerbaijani FM, Czech PM discuss strategic partnership, regional post-conflict situation
23 April 2024 - 16:51
Historic moment: first border pillar established between Azerbaijan and Armenia
23 April 2024 - 16:33
Türkiye-Iraq diplomatic thaw and regional integration
Ambitious vision23 April 2024 - 16:16
Armenian diplomat walks out after failed attempt to exclude Western Azerbaijan Community rep from OSCE event
23 April 2024 - 16:16
Russian army to receive S-500 systems for first time
23 April 2024 - 16:00
Pro-Armenian senator Menendez's corruption trial postponed to mid-May
23 April 2024 - 15:46
Erdogan urges Armenia to embrace realities to normalise relations
23 April 2024 - 15:31
Azerbaijan boosts energy infrastructure for North-South corridor
Power bridge connects Baku, Moscow, Tehran23 April 2024 - 15:17
Israel's military strikes northern Gaza in heaviest shelling in weeks
23 April 2024 - 15:14
Turkish army destroys dozens of terrorists
VIDEO23 April 2024 - 14:59
Narendra Modi accused of stirring tensions as voting in India continues
23 April 2024 - 14:41
Azerbaijani deputy FM exposes Armenia's use of fake social media accounts
Passing them off as Azerbaijani ones23 April 2024 - 14:27
Azerbaijani, Czech foreign ministers mull relations
23 April 2024 - 14:22
Armenia, Azerbaijan start border delimitation in western section of border
23 April 2024 - 14:03
Azerbaijani tank units personnel compete to enhance combat skills
23 April 2024 - 13:55
Armenia's claim falls outside ICJ jurisdiction – Azerbaijani official
23 April 2024 - 13:48
Iranian president visits Pakistan amid escalating tensions with Israel
23 April 2024 - 13:35
Demonstrations sweep US universities demanding end to Gaza war
23 April 2024 - 13:21
Germany urges US to send Kyiv another patriot missile system
23 April 2024 - 13:05
UNESCO resorts to double standards - chairman
23 April 2024 - 12:52
Azerbaijani president invites Ukrainian counterpart to COP29
23 April 2024 - 12:45
China sharply reduces equipment, machinery supplies to Russia
23 April 2024 - 12:40
Researchers say China's coal dependency to persist even after 2040
Despite climate targets23 April 2024 - 12:28
Armenia faces internal strife as border agreement with Azerbaijan sparks unrest
Tensions rise23 April 2024 - 12:28
Reuters: Ukraine launches military charm offensive as conscription flags
23 April 2024 - 12:15
High-ranking Hezbollah commander eliminated in Lebanon
VIDEO23 April 2024 - 12:02
Azerbaijan, Armenia initiate border clarification process
Geodetic measurements underway23 April 2024 - 11:54
Iraq, Qatar, UAE, Türkiye unite for connecting Persian Gulf to Europe
Quadrilateral MoU inked23 April 2024 - 11:49
Norway to increase military aid for Ukraine
23 April 2024 - 11:37
Azerbaijan produces over 7 billion kWh of energy
In Q1, 202423 April 2024 - 11:25
Armenian PM's Moscow visit sparks speculation on bilateral relations
Dilemma between East, West23 April 2024 - 11:19
Azerbaijan continues to clear Khankendi from Armenian weapons
23 April 2024 - 11:13
Putin: Russia invites interested parties to create North-South corridor
23 April 2024 - 11:00
NASA's Voyager 1 spacecraft sending data back to Earth
For first time in 5 months23 April 2024 - 10:48
Iran welcomes Azerbaijan-Armenia border delimitation agreement
23 April 2024 - 10:36
UK to allocate £500m military aid package to Ukraine
23 April 2024 - 10:24
US wants Israel to end Gaza operation
23 April 2024 - 10:13