Armenia's GDP growth is expected to reach 5.5 percent in 2021 and 5.25 percent in 2022, while inflation is projected to moderate in 2022 from its recent highs.

The loan agreements between the Eximbank and Uzbekistan's Ministry of Investment and Foreign Trade were signed in Seoul ahead of President Shavkat Mirziyoyev’s visit to South Korea.

Funds comprise a low-interest concessional loan of $250 million, repayable over 30 years, and a non-concessional loan of $150 million at market interest rates, repayable over 12 years.

Gross domestic product (GDP) grew by 2.3 percent year-on-year in January-November, down from 2.4 percent in the first ten months of this year.