YEREVAN, November 2. /ARKA/. In 2020, the European Union will provide Armenia with loans and grants to the tune of 78.8 billion, Armenian Finance Minister Atom Janjughazyan said on Friday during a parliamentary discussion on the draft state budget for next year.
He said for comparison this year Armenia has received 42.6 billion drams from the EU as grants and loans. He said more specifically the EU will provide to Armenia 14.5 million euros as grants or 7.6 billion drams.
About 16 billion drams will be provided for financing targeted programs, and the rest are credit funds which are reflected in the draft budget for 2020.
According to him, the financial assistance is expected to help the government avoid possible financial difficulties which may arise during the delivery of reforms. ($1 – 476.46 drams).