EFSD: Armenia secures $527 Million in sovereign financing for H1 2024
Armenia received $527 million in approved sovereign financing from international financial organizations and development agencies in the first half of 2024, a report by the Eurasian Fund for Stabilization and Development #40;EFSD#41; revealed on Wednesday.
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YEREVAN, August 7. /ARKA/. Armenia received $527 million in approved sovereign financing from international financial organizations and development agencies in the first half of 2024, a report by the Eurasian Fund for Stabilization and Development (EFSD) revealed on Wednesday.
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The report, titled Sovereign Financing in the Eurasian Region: H1 2024, is based on data from the Sovereign Financing Database (SFD).
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The Republic of Armenia, with the EBRD as the main creditor ($251.4 million), has been approved for $527 million, exceeding the total for the previous year by $178.1 million. A significant portion of the funds is earmarked for transport, public administration, and economic policy, the report states.
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In the first half of the year, the EFSD approved $100 million in financing to support Armenia's economic reforms. These funds will support the 2024 budget and are provided following the implementation of the government's reform program.
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Overall, sovereign financing approved in the Eurasian region for the first half of 2024 totaled $2.3 billion. EFSD member states accounted for 72.9% of this amount, or $1.6 billion. Kazakhstan received the highest amount of approved financing ($693.5 million), followed by Armenia, Tajikistan ($332.4 million), and Kyrgyzstan ($192.9 million).
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The Sovereign Financing Database is a unique analytical project by the EFSD, launched in 2022. It includes data on the activities of international financial organizations and development agencies in the macro-region. The SFD is compiled from a variety of open sources, including official websites, reports, and other primary information from international financial organizations. The data collection methodology covers a wide range of sovereign financing, including stabilization loans, investment loans, grants, and technical assistance projects.
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