New loan will be spent on PR of Serzh Sargsyan and Hovik Abrahamyan - lawmaker (video)
The Armenian legislature discussed on Friday a number of legislative measures and agreements. One of them was a loan agreement signed between the Republic of Armenia and European Bank for Reconstruction and Development (EBRD) in May, 2016. Under the document, the EBRD is providing assistance to the city of Gyumri in Armenia in rehabilitation of major streets and modernization of public lighting in Gyumri. A sovereign loan of up to EUR 14.6 million will be allocated to Armenia for the benefit of Gyumri through the on-granting arrangement. The parliamentary factions of the Country of Law Party (OEK) and Prosperous Armenia Party (BHK) supported the measure saying they agree to initiatives concerning Gyumri. The measure received 102 votes in favor, 4 against and 2 abstentions. The National Assembly also passed the amendments to the RA Laws on Personal Data Protection and Administrative Territorial Division. The legislature also discussed an agreement with International Bank for Reconstruction and Development (IBRD) signed on May 12 2016, under which the IBRD will provide Armenia a US$30 million loan of variable spread with a 14.5-year grace period and the total repayment term of 25 years. The US$30 million loan for the Power Sector Financial Recovery Program-for-Results for Armenia was approved in April 2016. This project will support the Government's efforts to maintain adequate and reliable electricity supply by improving the financial condition and governance of the state-owned power generation companies and the private power distribution company. During the discussion, BHK lawmaker Mikael Melkumyan said judging from what they had heard he could say that the state was assuming the criminal management of the neclear power plant. “The plant's deputy director was accused of extorting $ 20 million. You cannot always justify criminals and shift the burden on citizens. BHK will vote against the bill,” said Naira Zohrabyan, head of the BHK faction in the Armenian parliament. Opposition lawmaker Nikol Pashinyan added in turn, “Are going to take a new loan in order to organize the PR of Serzh Sargsyan and Hovik Abrahamyan?” The agreement received 70 votes in favour and 32 votes against.
