Following the recession triggered by the 2009 global financial crisis, Armenia’s infrastructure public spending fell sharply, contributing to further deterioration of the country’s road and water assets and services. To help address the situation, the Asian Development Bank (ADB) approved in August 2014 a $49 million concessional loan from the Asian Development Fund for Armenia’s Infrastructur
Nepal’s transition to democracy, following the end of a decade-long civil conflict in April 2006, had been complex and sometimes halting because of the deep ideological, social, and economic divisions that propelled the conflict.
In 2014, Kazakhstan experienced two external shocks that impacted economic growth, revenue performance, and the government’s ability to reduce the effects through countercyclical expenditures. The first comprised spillover effects from the economic slowdown and uncertain situation of the Russian Federation, which triggered a downward adjustment in the tenge exchange rate.