Tweet
WORLD BANK APPROVES $11 MILLION CREDIT FOR ARMENIA
news.am
February 15, 2012 | 16:53
The World Bank has approved a $11 million credit, the Third Additional
Financing for the Social Investment Fund III Project for Armenia.
The Additional Financing will further assist the Government of
Armenia in its efforts to improve the living standards of the poor
and vulnerable groups by expanding labor-intensive infrastructure
projects in response to critical needs of the local communities.
Total financing of the Additional Financing is US$ 14.6 million,
of which the Government of Armenia will finance US$2.9 million and
US$0.7 million will be provided by beneficiary communities.
The Project focuses on ~Sinfrastructure gaps~T through renovation
and rehabilitation of secondary and special schools, kindergartens,
gymnasiums and playgrounds, primary health clinics, potable water
pipelines and sanitation systems, community-cultural and social
service centers, minor irrigation schemes throughout Armenia, World
Bank~Rs website says.
~SThe proposed project will directly benefit 50 rural communities.
While this creates much-needed jobs in the current environment, the
success of the program will also depend on how well local communities
are able to sustain these new investments,~T said Asad Alam, World
Bank Regional Director for the South Caucasus.
So far, under ASIF III, 233 community infrastructure micro-projects
have been completed and another 27 are under implementation.
news.am
February 15, 2012 | 16:53
The World Bank has approved a $11 million credit, the Third Additional
Financing for the Social Investment Fund III Project for Armenia.
The Additional Financing will further assist the Government of
Armenia in its efforts to improve the living standards of the poor
and vulnerable groups by expanding labor-intensive infrastructure
projects in response to critical needs of the local communities.
Total financing of the Additional Financing is US$ 14.6 million,
of which the Government of Armenia will finance US$2.9 million and
US$0.7 million will be provided by beneficiary communities.
The Project focuses on ~Sinfrastructure gaps~T through renovation
and rehabilitation of secondary and special schools, kindergartens,
gymnasiums and playgrounds, primary health clinics, potable water
pipelines and sanitation systems, community-cultural and social
service centers, minor irrigation schemes throughout Armenia, World
Bank~Rs website says.
~SThe proposed project will directly benefit 50 rural communities.
While this creates much-needed jobs in the current environment, the
success of the program will also depend on how well local communities
are able to sustain these new investments,~T said Asad Alam, World
Bank Regional Director for the South Caucasus.
So far, under ASIF III, 233 community infrastructure micro-projects
have been completed and another 27 are under implementation.