Armenia to provide additional $28 million to Karabakh

Armenia to provide additional $28 million to Karabakh

PanARMENIAN.Net - 13.5 billion drams ($28 million) will be provided to Artsakh (Nagorno-Karabakh), according to a decision approved by the government on Thursday, October 28.

The funds include an interstate loan in the amount of AMD 12.2 billion, while AMD 1.3 billion will go to the residents' utility reimbursement program

The loan has an annual interest rate of 0,001%, with a repayment period by January 1, 2025, the Finance Minister added.

In the post-war period, Armenia has already transferred some AMD 120 billion ($250 million) to Artsakh since 2020. The funds will be spent on restoring life in Artsakh, revitalizing the economy and solving the social problems of the displaced population.

 Top stories
Wizz Air Abu Dhabi will be regularly flying from the Armenian capital of Yerevan to Abu Dhabi, UAE.
The ruble was trading at a low of 74.9 to $1 on March 9 morning, after another wild start to the week for financial markets.
Pashinyan said that raising the efficiency of the fight against corruption will be one of the most important challenges.
The Council adopted revised conclusions on the EU list of non-cooperative jurisdictions for tax purposes.
Partner news