BAKU, Azerbaijan, June 20. The Armenian government has approved a 75 million euro loan from the French Development Agency to cover the budget deficit, Trend reports.
The agreement is set to be signed on June 26.
The loan isn't earmarked for specific programs: the government will use it to replenish the budget and allocate the funds as it sees fit. However, the loan comes with the condition of improving the budgetary system. So, how will Yerevan spend these funds?
This aid is just another way for Paris to strengthen its position in the South Caucasus and make Yerevan more dependent. France's motives are clear. Moreover, given the complete failure of French President Emmanuel Macron's party in the European Parliament elections, the support of the Armenian diaspora is more crucial than ever.
Numerous arms supply agreements and now substantial financial loans directly undermine the peaceful agenda that Azerbaijan is promoting in its relations with Armenia, as well as efforts to achieve stability and security in the region.