Eurasian Development Bank negotiates changes to terms of loan installment for Armenia

Representatives from Eurasian Development Bank (EDB) visited Yerevan, Armenia, earlier this month to negotiate changes to the terms of the third portion of a loan to Armenia.

According to an EDB press release, the changes aim to optimize parts of the loan and define new terms and conditions based on the changing priorities of the Armenian government. One recommendation included that the government pursue a means of fiscal stability. The parties plan to discuss budget deficit issues again later in the year.

They also discussed a time frame for making social service centers operational, with 20 slated to open in the near future, down from an original 38 planned.

The third installment of the loan is also designed to help make the country more attractive to investors and entrepreneurs and to boost economic activity, increasing access to loans for small- and medium-sized businesses.

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