Soft credits to save Armenia's budget
Despite the fact that Armenia has already passed the showing, typical for poor countries, however, to obtain credits on preferential or soft terms during crisis is a considerable success, Tigran Davtyan , Minister of Finance of Armenia told reporters at the International Scientific Conference "The impact of the global crisis on Armenia: the short and long perspective" in Yerevan.
According to him, loans on preferential terms are usually available only for poor countries, GDP of which do not surpass $800 million. And Armenia is already out of this category.
Credits of the WB, IMF, ADB and the Russian credit are granted to Armenia at an unprecedented preferential or "soft" conditions for up to 30 years. "Armenia has been able to attract resources during the world crisis, when funds are in brisk demand and loans are very expensive," he said.
In general, as the Minister of Finance noted, there are already good solutions for all credit programs and by early September a large part of resources will be at Armenia's disposal.
According to him, loans on preferential terms are usually available only for poor countries, GDP of which do not surpass $800 million. And Armenia is already out of this category.
Credits of the WB, IMF, ADB and the Russian credit are granted to Armenia at an unprecedented preferential or "soft" conditions for up to 30 years. "Armenia has been able to attract resources during the world crisis, when funds are in brisk demand and loans are very expensive," he said.
In general, as the Minister of Finance noted, there are already good solutions for all credit programs and by early September a large part of resources will be at Armenia's disposal.
