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.“Sound public debt management and well-developed financial markets are essential to Armenia’s long-run growth and sustainable development,” said 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.Through a series of sequenced reform measures, the program will strengthen Armenia’s public debt management to enhance fiscal discipline and transparency and improve the efficiency of the government securities market so that Armenia can rely more on domestic bo...
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