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ADB provides $40 million to Armenia for fiscal and financial market reforms

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ADB provides $40 million to Armenia for fiscal and financial market reforms

The Asian Development Bank’s (ADB) Board of Directors has approved a $40 million policy-based loan to help the Government of Armenia’s ongoing efforts to strengthen fiscal sustainability and support the development of financial markets in the country, the Bank reported in apress statement.

“Sound public debt management and well-developed financial markets are essential to Armenia’s long-run growth and sustainable development,” the release quotes Shane Rosenthal, Country Director, Armenia Resident Mission. “We are helping the Government of Armenia implement a series of reforms to increase transparency, improve governance, and encourage more private investment in the country that will create more jobs.”

The Public Efficiency and Financial Markets Program will increase the depth of financial markets in Armenia and help the government in its goal of increasing fiscal sustainability and resilience in the country’s financial sector.

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