ADB approves loan to back Armenian financial reform

Asian Development Bank (ADB) has approved a $50 million policy-based loan as part of an ongoing program of financial reforms to strengthen public debt and fiscal risk management and develop financial markets in Armenia.

The second subprogram of the Public Efficiency and Financial Markets Program supports the Government of Armenia’s efforts to consolidate fiscal reforms, reduce financial risks in the economy, provide a sustainable framework for financial markets development, and usher in a more conducive environment for private sector involvement in infrastructure development. ADB provided $40 million in October 2017 to the first subprogram.