The government has announced that Armenia and the French Agency for Development (AFD) have reached a loan agreement. The agreement, known as “LOAN AGREEMENT CAM 1024 01 C between the Government of the Republic of Armenia and the French Agency for Development,” will provide a loan of 75 million euros to Armenia. This loan will be used to support agricultural initiatives, including agricultural planning, irrigation, risk management, and improvements in public expenditures. Other areas of focus include enhancements to the state-funded activity system, public procurement system, urban development, climate change adaptation, and expansion of financial tools.

The implementation of these agricultural support measures is contingent upon several conditions outlined in a bilateral agreement on political cooperation in various fields. These conditions also outline specifics regarding financial and capital market development, corporate governance and regulatory reform, expansion of commercial services, agricultural insurance expansion, and technical assistance.

For Armenia to receive these agricultural support measures, it is crucial for the government to adhere to the provisions outlined in “The Government of the Republic of Armenia’s Public Budget for 2024.” Additionally, ensuring timely receipt of the loan funds is of utmost importance.