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World Bank To Develop New Cooperation Program With Armenia For 2010

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  • World Bank To Develop New Cooperation Program With Armenia For 2010

    WORLD BANK TO DEVELOP NEW COOPERATION PROGRAM WITH ARMENIA FOR 2010

    ARMENPRESS
    Aug 31, 2009

    YEREVAN, AUGUST 31, ARMENPRESS: World Bank will develop new cooperation
    program with Armenia for 2010, Aristomene Varudakis, head of the WB
    Armenian Office, said today at a press conference. He said that by
    the end of the year half of the loan money will be transferred to
    Armenia. Moreover, steps are being undertaken to provide sums as soon
    as possible.

    Varudakis noted that the WB provided to Armenia means for renovation of
    rural roads of vital importance, about 50 million USD for increasing
    the level of providing credits particularly to small and medium-sized
    enterprises, about 30 million USD for restoration of irrigation
    network, about 25 million USD for implementation of educational
    reforms. In late June agreement on providing 60 million USD loan to
    Armenia as budget assistance has been provided to close the financial
    gap created as a result of crisis.

    Referring to the Armenian government's anti-crisis events, Varudakis
    did not share the viewpoint that the Armenia's executive body is
    conducting sponsorship policy. He said the government tries to avoid
    such phenomena as much as possible.
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