Armenia will offer interest-free loans within coronavirus aid packageMarch 19, 2020 - 12:30 AMT PanARMENIAN.Net - The government on Thursday, March 19 discussed issues related to the settlement of the economic crisis caused by the novel coronavirus. Prime Minister Nikol Pashinyan unveiled the details of an economic aid package introduced the day before. A portion of the package will be used for business loans, he said, with the government and banks sharing the financing. The government will provide funds interest-free and subsidize those provided by the banks and credit organizations, which means borrowers will receive loans completely interest-free. The money can be spent on paying salaries and taxes, purchasing and importing raw materials or equipment, covering electricity, water and gas costs Pashinyan on Wednesday announced a AMD 150 billion ($305 million) economic aid package aimed at easing the impacts of the novel coronavirus. Armenia declared a 30-day state of emergency on Monday and banned citizens of 16 nations from entering the country. So far, one person has recovered from the coronavirus and 115 cases have been confirmed overall in the country. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |