Armenia will receive a $150 million loan from the Asian Development Bank.

Axar.az informs, citing Armenia news, the Armenian government approved the Fiscal Stability and Financial Markets Development Program - Subprogram 3 loan agreement with the Asian Development Bank (ADB).

This decision states that the signing of this agreement is due to the need to ensure the implementation of Armenia’s law on the state budget for 2025.

The Armenian government has developed the 2025 annual borrowing program, according to which the need for loans for budget support, which is planned to be received from international financial institutions, including the ADB, is estimated at about $675 million.

Taking into account the abovementioned, the Ministry of Finance of Armenia has launched the process of getting a $150 million budget support loan from the ADB.

These budget support funds will be directed to funding the budget deficit defined in the law on the state budget of Armenia for 2025.

The floating interest rate on this loan will be 4.66%, and its term will be 15 years—of which the grace period will be 3 years.