March 25 2004
Armenia to receive World Bank loan for education reform
Yerevan. (Interfax) – The World Bank is to allocate a $52 million
ten-year loan to Armenia for education reform, Roger Robinson, the
head of the Bank’s Yerevan office, told the press on Wednesday.
The money will be disbursed in three installments, with $19 million
allocated in the first four years for high school education reforms.
The $19 million loan, which will be given for 40 years with a 10-year
grace period, was approved on January 22.
If the first stage of reforms is successful, the World Bank will
continue to finance the education system reforms, Robinson said.
The terms and components of the second and third stages will be
determined later, he said.