Seda Hergnyan

Armenia's Biggest Creditor Is World Bank

Armenia’s national debt has surpassed US$6 billion. $4.852 billion of it is foreign debt.

The country’s National Statistical Service says that Armenia’s biggest creditor is the World Bank at $1.749 billion (36.2% of foreign debt).

Next comes the Asian Development Bank at $515.157 million, followed by the IMF ($410.758)

Armenia owes $246.5 million to the Japanese International Cooperation Agency, $213.2 million to Germany’s KfW Development Bank, and $205 million to the Eurasian Development Bank.

$158.6 million is owed to the European Investment Bank.