On November 14, a Loan Agreement (No. 28470) of EUR 80 million was signed between the Republic of Armenia and the Reconstruction Credit Institute (KfW)”: the draft was approved by the RA Government on November 9. The Agreement was signed by the RA Minister of Finance Vardan Aramyan on behalf of the Armenian Government. The loan amount is EUR 80 million, which is provided in two tranches – each of EUR 40 million for 2017 and 2018. According to the Agreement, the interest rate is fixed - 2.3% for the first allocation and 2.46 % for the second one; the liability charge is 0.25% to the unused amount of the loan; one-off commission fee is 1% of the loan amount; the maturity of the principal amount is 15 years; the grace period is 5 years; the technical assistance grants under the project total EUR 8.3 million. The budgetary assistance loan is aimed at the improvement of the reform process of water and solid waste sector in Armenia and the introduction of the agricultural insurance system in the agricultural sector.
