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IMF And WB's Support Helps Armenia To Stand Crisis

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  • IMF And WB's Support Helps Armenia To Stand Crisis

    IMF AND WB'S SUPPORT HELPS ARMENIA TO STAND CRISIS

    ARKA
    Nov 24, 2008

    YEREVAN, November 24. /ARKA/. Armenia has managed to resist the first
    blow of the global crisis thanks to World Bank and International
    Monetary Fund's support, Armenian Prime Minister Tigran Sargsyan
    said Saturday at his meeting with the delegation headed by Aristomene
    Varoudakis, head of Armenian office of the World Bank.

    The premier expressed appreciation of IMF and WB's support saying it
    is very important for Armenia.

    He said it will be very difficult to meet the crisis-caused troubles.

    Governmental press office quoted Sargsyan as saying that
    increasingly-developing Armenia's economy needs greater and greater
    resources.

    The premier said that, in accordance with agreements reached in
    Washington, the financial assistance pledged by the World Bank will be
    focused on three strategic segments - energy, drinking and irrigation
    water and road construction.

    A part of this money will be spent for implementation of education,
    management, agriculture and social investment programs.

    Sargsyan said that expected additional $250 million will target small-
    and mid-scale business.
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