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Gayane Hovsepyan

Armenia to Allocate 13.4 Billion AMD to Artsakh

Armenia will allocate 1.2 billion AMD (US$2.4m) to finance electricity, gas and communication utility costs for Artsakh citizens.

The Armenian government, at a cabinet meeting today, decided to also grant a 12.2 billion AMD ($24.7m) loan to the Artsakh government to cover September salaries, benefits, pensions, healthcare expenses and bonds.

The loan, at an annual interest rate of 0.001%, comes due on January 1, 2025.

Armenian Prime Minister Nikol Pashinyan noted that allocations provided to Artsakh since November 2020 approach 100 billion drams.

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