WB cancels 1.7% additional interest rates for Armenia's loans

Considering the predictions of economic worsening for all the countries of the world in 2020, the international financial institutions try to maximally assist their member states to overcome the consequences of the pandemic.

The International Development Association (IDA) (under WB) has canceled by one year the additional interest rates for a number of loans by 1.7%.

According to the calculations of the World Bank  and the Finance Ministry of Armenia, as a result of cancelling the 1.7% additional interest rate, the Armenian state budget will save nearly 13 million USD.