Tweet
WORLD BANK SUPPORT FOR ARMENIA WILL GROW IN 2015
13:13, 19 Dec 2014
The World Bank today summarized the financial support that it has
provided to the country during the current year, and reaffirmed its
continuing commitment going into 2015, both for the Government's policy
reform agenda through policy lending, and to investments in tangible
improvements for the Armenian people through sectoral programs.
"Over the course of 2014, we have disbursed more than US$40 million
through implementation of our ongoing sectoral projects. And next
week, the large disbursement of US$75 million for our development
policy loan will be released to the Government," says Laura E. Bailey,
World Bank Country Manager for Armenia."In the first half of 2015,
we forecast a higher level of disbursement each month, averaging US$5
million per month at first, and growing steadily as five new projects
approved in 2014 begin working and generating visible results for
Armenian families."
As 2014 draws to a close, the World Bank portfolio includes 13
sectoral projects under active implementation.Some of the achieved
results that have been possible with this support include:
Making all-season roads accessible to 60 percent of the rural
population; Increasing milk production of cattle and sheep by
11 percent and 6 percent, respectively; Tripling the share of the
population using a computer within the last four years; Establishing
the Gyumri Technology Center and contributing to the northeast region's
enterprise innovation; Creating 584,160 job-days of employment and
US$9.8 million in wage income through 290 community infrastructure
micro-projects; Constructing or renovating 100 healthcare facilities in
rural areas; Supplying 200 public health facilities with a standard set
of medical equipment, supplies, furniture, and medical technology;
Renovating and constructing 10 regional medical centers with
modern medical equipment and furniture; Implementing 337 preschool
micro-projects that help over 8,000 boys and girls; and Supporting
the connection of all public schools in the country to the Internet.
Recently, two of the five projects approved in 2014 were ratified by
Armenia's Parliament and have become effective: the Social Protection
Administration Project II (SPAP2) and the Education Improvement
Project (EIP). The remaining three new projects are expected to become
effective early in 2015, and will join the portfolio of actively
disbursing projects: the Second Community Agriculture Resources
Management and Competitiveness Project (CARMAC2), Additional Financing
for the Electricity Supply Reliability Project, and the Trade Promotion
and Quality Infrastructure Project. These projects together mobilize
more than US$170 million in support of tangible improvements for
Armenian communities.
"The World Bank will not waver in its support for policies and
investments that support economic growth and sustainability in the
medium- and long-term," says Ms. Bailey. "In 2014, we have been
able to make important investments in many areas that matter in a
direct and visible way to Armenian families, through our projects in
agriculture, irrigation, drinking water, education, roads, health,
energy, and social services."
The World Bank remains fully committed to helping the country as it
adjusts to the volatile regional and global economic developments
and builds a stronger economy that creates jobs, which is Armenia's
long-term development challenge. Discussions are well underway
between the Bank's technical teams and the Government departments
on a new round of projects that will be finalized in 2015, covering
roads, power, tourism, and local development, and further support to
the Armenia Social Investment Fund. The Bank will also finance the
third Development Policy Operation in 2015, which will conclude the
current series of policy reform support operations and set the stage
for discussions on further assistance.
http://www.armradio.am/en/2014/12/19/world-bank-support-for-armenia-will-grow-in-2015/
13:13, 19 Dec 2014
The World Bank today summarized the financial support that it has
provided to the country during the current year, and reaffirmed its
continuing commitment going into 2015, both for the Government's policy
reform agenda through policy lending, and to investments in tangible
improvements for the Armenian people through sectoral programs.
"Over the course of 2014, we have disbursed more than US$40 million
through implementation of our ongoing sectoral projects. And next
week, the large disbursement of US$75 million for our development
policy loan will be released to the Government," says Laura E. Bailey,
World Bank Country Manager for Armenia."In the first half of 2015,
we forecast a higher level of disbursement each month, averaging US$5
million per month at first, and growing steadily as five new projects
approved in 2014 begin working and generating visible results for
Armenian families."
As 2014 draws to a close, the World Bank portfolio includes 13
sectoral projects under active implementation.Some of the achieved
results that have been possible with this support include:
Making all-season roads accessible to 60 percent of the rural
population; Increasing milk production of cattle and sheep by
11 percent and 6 percent, respectively; Tripling the share of the
population using a computer within the last four years; Establishing
the Gyumri Technology Center and contributing to the northeast region's
enterprise innovation; Creating 584,160 job-days of employment and
US$9.8 million in wage income through 290 community infrastructure
micro-projects; Constructing or renovating 100 healthcare facilities in
rural areas; Supplying 200 public health facilities with a standard set
of medical equipment, supplies, furniture, and medical technology;
Renovating and constructing 10 regional medical centers with
modern medical equipment and furniture; Implementing 337 preschool
micro-projects that help over 8,000 boys and girls; and Supporting
the connection of all public schools in the country to the Internet.
Recently, two of the five projects approved in 2014 were ratified by
Armenia's Parliament and have become effective: the Social Protection
Administration Project II (SPAP2) and the Education Improvement
Project (EIP). The remaining three new projects are expected to become
effective early in 2015, and will join the portfolio of actively
disbursing projects: the Second Community Agriculture Resources
Management and Competitiveness Project (CARMAC2), Additional Financing
for the Electricity Supply Reliability Project, and the Trade Promotion
and Quality Infrastructure Project. These projects together mobilize
more than US$170 million in support of tangible improvements for
Armenian communities.
"The World Bank will not waver in its support for policies and
investments that support economic growth and sustainability in the
medium- and long-term," says Ms. Bailey. "In 2014, we have been
able to make important investments in many areas that matter in a
direct and visible way to Armenian families, through our projects in
agriculture, irrigation, drinking water, education, roads, health,
energy, and social services."
The World Bank remains fully committed to helping the country as it
adjusts to the volatile regional and global economic developments
and builds a stronger economy that creates jobs, which is Armenia's
long-term development challenge. Discussions are well underway
between the Bank's technical teams and the Government departments
on a new round of projects that will be finalized in 2015, covering
roads, power, tourism, and local development, and further support to
the Armenia Social Investment Fund. The Bank will also finance the
third Development Policy Operation in 2015, which will conclude the
current series of policy reform support operations and set the stage
for discussions on further assistance.
http://www.armradio.am/en/2014/12/19/world-bank-support-for-armenia-will-grow-in-2015/