At Thursday's Cabinet meeting, the Armenian government allocated 179 million drams (approx. US$465,500) to fund the expenses of holding the 2024 annual meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) and the business forum in Yerevan.

In the explanation of this decision, it is noted that a total of 2.2 billion drams (approx. US$5.7 million) are planned for funding this event.

The funding for the holding of these two events is planned to be carried out in two directions. The rental of the event venues is planned to be carried out directly by the Ministry of Finance, and the rest of the work will be carried out by a specialized event organizer.

As a result of joint discussions with EBRD, it became necessary to add a number of services within the framework of these events, which amounts to around 179 million drams.

Thus, the re-estimated total organizational costs of the annual meeting and business forum exceed by about 179 million drams the allocations of 2.2 billion drams provided for in the 2024 state budget of Armenian.