ArmInfo. The RA Government will provide a $5 million budget loan to Meridian Holding to prepare premises for the 17th Conference of the Parties to the UN Convention on Biological Diversity. The decision was made at a government meeting on May 27.
As noted in the rationale for the draft decision, UN experts believe the Meridian Exhibition Center has the greatest potential for hosting such events. To this end, the State Property Management Committee and Meridian Holding CJSC signed a state contract for the procurement of services on September 25, 2025. According to preliminary estimates, the total cost of large-scale construction and renovation work at the center, in accordance with international standards, is approximately $25 million, including the demolition of semi-detached buildings, construction, and reconstruction of the site.
According to the agreement reached between the company and the RA government, $5 million will be provided to the company as a one-time advance payment. The funds bear an effective interest rate of 1% per annum and a repayment term of 78 months. Interest on the loan will accrue on the outstanding balance, and interest and principal will be repaid quarterly, beginning in the 18th month following the loan issuance, in equal installments. In addition, the company undertakes to invest up to $5 million of its own funds should the advance payments and loan proceeds prove insufficient to complete the work.
The exchange rate set by the Central Bank on May 20, 2026 (367.87 drams per $1) was used as the basis for calculating the draft resolution.
