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Nearly 50 Million USD Of Stabilization Credits Provided To Armenia B

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  • Nearly 50 Million USD Of Stabilization Credits Provided To Armenia B

    NEARLY 50 MILLION USD OF STABILIZATION CREDITS PROVIDED TO ARMENIA BY THE WORLD BANK TO BE TRANSFERRED DURING THE UPCOMING TWO WEEKS

    ARMENPRESS
    March 19, 2009

    YEREVAN, MARCH 19, ARMENPRESS: Nearly 50 million USD of stabilization
    credits provided to Armenia by the World Bank will be transferred
    during the upcoming two weeks. During today's session of Armenian
    government the Finance Minister Tigran Davtian noted that these sums
    will be directed towards the co-financing of the program of development
    of small and medium-sized entrepreneurship in Armenia.

    The right to distribute them will be given to the Armenian Central
    Bank, which in its turn will provide credits to the commerce banks
    and the latter - to the small and medium-sized enterprises. According
    to T. Davtian, all the inter-state procedures of getting the credit
    were implemented successfully within unprecedented brief periods.

    Referring to this decision the Armenian Prime Minister Tigran
    Sargsian noted that studying the process of distribution of the
    means, all the efforts will be exerted in the future to involve other
    additional financial means as the demand for the credits will be even
    more. According to him, there are agreements with the international
    organizations to develop the cooperation stage by stage.
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