ARMENIAN PARLIAMENT RATIFIES 1.3 SDR AGREEMENT WITH WB
ARKA
March 18, 2009
YEREVAN, March 18. /ARKA/. At its sitting today the RA Parliament
ratified a 1.3mln SDR
agreement with the International Development Association (IDA),
world Bank (WB).
The agreement provides for the financing of a program of developing
agricultural enterprises and small commercial farming.
The agreement was signed on February 26, 2009. On behalf of the
Republic of Armenia it was signed by RA Minister of Finance Tigran
Davtyan. The agreement is aimed to facilitate the development of
small and medium-sized agricultural enterprises in Armenia.
The agreement is tom take effect the day the WB is notified of all
the ratification procedures having been completed in Armenia.
IDA issues interest free loans for 30-40 years, with a 10-year grace
period.