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World Bank Approves Three Credits For Armenia

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  • World Bank Approves Three Credits For Armenia

    World Bank Approves Three Credits For Armenia
    Contacts:
    In Yerevan: Vigen Sargsyan, (374 1) 524-884
    [email protected]
    In Washington Miriam Van Dyck (1-202) 458-2931
    [email protected]


    WASHINGTON, May 4, 2003-The World Bank's Board of
    Executive

    Directors today approved three credits for Armenia: a US$10.15
    million equivalent credit for the Public Sector Modernization Project,
    a US$20 million equivalent credit for the Municipal Water and
    Wastewater Project, and a US$1.74 million equivalent for a
    supplemental credit for the Agricultural Reform Support Project.


    The US$10.15 million equivalent Public Sector Modernization Project
    will assist the government in its efforts to improve the transparency,
    accountability, effectiveness and efficiency of public sector
    management. This is the first World Bank-supported project focused on
    public sector reforms. The project will support civil service reforms,
    and will make specific innovations in core public institutions, which
    should become a catalyst for further modernization efforts.

    While the first phase of public sector reforms in Armenia can overall
    be considered to be completed, the government is currently entering
    into the second, more challenging phase of institutional and
    governance reforms. The project will support the government in
    implementation of the second phase of public sector reforms, primarily
    aimed at strengthening the management systems of state institutions,
    and improving policy development and service delivery processes both
    at central and local levels.

    The US$20 million Municipal Water and Wastewater Project will assist
    the Government in its efforts to improve water and wastewater
    services, in terms of coverage, quality and efficiency with a focus on
    areas outside the capital city. It is the second IDA-financed water
    and wastewater project in Armenia, after an initial Municipal
    Development Project (MDP) to support Yerevan's Water and Sanitation
    Company. The Municipal Water and Wastewater Project will build on the
    accomplishments of the Yerevan MDP and continue sector reforms beyond
    the capital city by strengthening the Armenia Water and Sanitation
    Company (AWSC) through financial and technical rehabilitation of
    Armenia's water and wastewater systems.

    The project will extend improvements recently achieved in Yerevan to
    other parts of the country, and will lead to several key technical and
    commercial outcomes. It will improve the reliability and quality of
    drinking water, increase hours of service, and provide for greater
    operating efficiency. In addition, the project will result in improved
    relationships with customers, capable management and qualified staff,
    and increased water company cash generation through reform of billing
    and collection.

    The US$1.74 million supplemental credit for the Agricultural Reform
    Support Project will finance assistance to smallholder farmers whose
    vineyards and orchards were damaged by the frosts of December 2002 as
    well as continued operation of critical agricultural support
    services. This includes about 1,000,000 grapevine seedlings and
    400,000 fruit tree seedlings for the rehabilitation of about 370 ha of
    smallholders' vineyards and 1,130 ha of smallholder's orchards;
    continued operation of the rural extension service and the regional
    agricultural service centers; the adaptive and applied agricultural
    research program; the integrated pest management (IPM) program; and
    the market information service until June 2005.

    The orchard and vineyard replanting program will benefit up to 10,000
    of the most severely affected small farmers, helping them to recover
    from the devastation of their grapevines and fruit trees and to
    upgrade the genetic diversity and quality of their grape and fruit
    tree stock. The continued funding of essential agricultural support
    services will ensure that farmers continue to receive the critical
    advisory, information and technical assistance needed to improve their
    productivity and incomes. The original IDA Credit for the
    Agricultural Reform Support Project, for US$14.5 million, was approved
    in 1998.

    The credits will be made to Armenia on standard IDA terms, including
    40 years maturity and a 10-year grace period. Since joining the World
    Bank in 1992 and IDA in 1993, commitments to Armenia total
    approximately US$786.9 million for 33 operations.


    For more information on the World Bank's activities in Armenia,
    please visit:
    http://lnweb18.worldbank.org/eca/armenia.nsf

    From: Emil Lazarian | Ararat NewsPress
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