News - Armenia finance minister: Considerable part of €2.6 billion to be provided by EU is loan

That €2.6 billion euros is not a gift; a considerable part of it is a loan. Minister of Finance Vahe Hovhannisyan told Armenian News-NEWS.am about this in the National Assembly Monday, referring to the 2.6 billion euros to be provided to Armenia by the EU. "All of it is not being implemented with the budget, a part is being implemented with non-budgetary means, through the banking system or various other tools. I can talk about what projects are being implemented [in Armenia] with the budget, with the EU or European organizations. "It's not just money; money has been talked about. But for the use of that money, concrete plans are needed that will correspond to the set plans. There are programs for which we may not see the spending of money at the moment, but the program is at the phase of planning or finalization," Hovhannisyan said.