BHK and HAK parties against growth of Armenia’s foreign debt

At the regular sitting of the National Assembly today the secretary of Prosperous Armenia (BHK) faction Naira Zohrabyan addressed the loan agreements for the implementation of educational programs in Armenia. The agreements were debated yesterday.
“BHK has repeatedly said that it considers it admissible to constantly increase credit histories, bringing the country’s foreign debt to 5 billion. For this reason our faction will vote against,” she said.

The secretary of Armenian National Congress (HAK) faction Aram Manukyan for his part called on deputies to abstain in the vote so that the foreign debt will not increase once again.

The agreements debated in the parliament are two agreements on programs in the educational sphere. Under these agreements signed on May 23, 2014, International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD) will allocate loans of $30 million to Armenia. IBRD will provide $15 million, and the other half equivalent to 9.8 SDR will be allocated by IBRD.

Armenian Education and Science Minister Armen Ashotyan told the parliamentary deputies that the credit resources will be spent in 2014-2019 in three main directions: improvement of education quality in elementary schools, improvement of conditions in senior schools, and assistance to ensure higher quality education at universities.