September 30, 2021 - 15:24 AMT
Armenia to provide AMD 13.5 billion to Karabakh

The Armenian government has decided to allocate AMD 13.5 billion (around $27.5 million) to Artsakh (Nagorno-Karabakh).

Finance Minister Tigran Khachatryan revealed on Thursday, September 30 that the funds include an interstate loan in the amount of AMD 12.2 billion, while AMD 1.2 billion will go to the residents' utility reimbursement program.

Khachatryan said this is the government's fourth such decision, as Armenia has already transferred some AMD 100 billion ($203 million) to Artsakh since 2020.

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