Budget support credit to Armenia (2015)

Armenia

Budget support and/or balance-of-payments support

Signed Financial credit

EFSD Council approved a budget support credit in the amount of 300 million dollars by three equal tranches during 2015-2017 to the Republic of Armenia by its decision as of October 29, 2015. The main objective of the Credit is to support of the Armenia’s authorities program aimed at increasing the country's resistance to external shocks through consolidating the budget position and improving the efficiency of public spending, expanding the economic base through improving the business and investment climate and reducing the dollarization of the banking sector.

The first tranche in the amount of 100 million US dollars was disbursed to the Republic of Armenia on 28 December, 2016, based on the appropriate decision of the Fund Council on satisfactory implementation of the tranche release conditions.

The second tranche in the amount of 100 million US dollars was disbursed to the Republic of Armenia on 6  December, 2016, based on the appropriate decision of the Fund Council on satisfactory implementation of the tranche release conditions.

The third tranche in the amount of 100 million US dollars was disbursed to the Republic of Armenia on 6 December, 2017, based on the appropriate decision of the Fund Council on satisfactory implementation of the tranche release conditions.

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