ESFR approved the first tranche of the loan Armenia $100 million

Moscow. December 8. The Council of the Eurasian Fund for stabilization and development (ESP) at the meeting on Tuesday approved the granting Armenia the first tranche of the budget-substituting loan by $100 million and investment loan for the project “Mastara Reservoir” of $26 million, said the Minister of Finance of the Russian Federation Anton Siluanov.

“Today we decided on a budget-substituting loan to the Republic of Armenia and investkredit for the construction of the reservoir, which is necessary for accumulation of water resources for agriculture development in Armenia”, he said.

Siluanov also said that budget-substituting loan Belarus $2 billion not yet approved. “We would like to identify the more significant the number of structural measures in the provision of the first tranche of the loan, because it is the most capacious of $500 million of the $2 billion loan,” he said, explaining that the original stated amount of the credit at $3 billion decreased in the negotiation process.