Interfax, Russia
Dec 17 2009
World Bank intends $164 mln in credits to Armenia in 2010
YEREVAN Dec 17
The World Bank plans to extend Armenia $164 million under eight new
lending programs in 2010, Director of the World Bank Yerevan office
Aristomene Varoudakis said at a Thursday press conference.
These programs will be submitted to the World Bank board of directors
for approval, Varoudakis said.
A loan of $25 million is earmarked for the Armenia government to use
in 2010 budget support, another, for $7 million, is for the Social
Investment Fund for implementing social programs. A credit of $5
million will be put towards social-services quality improvements, $10
million for reforming the system of state administration, $24 million
for the development of the information technology sector, $43 million
for the rebuilding of a section of the North-South
Yerevan-Banadzor-Bagratashen highway, $36 million for reconstructing
electric power distribution networks in Armenia and $14 million for
the meat and dairy industry.
Under a strategic partnership agreement, Varoudakis said, the World
Bank will extend Armenia around $550 million in 2009-2012. Credits of
$100 million are slated for state budget financing, $450 million for
government investment programs. The country will be issued $280
million in 2009.
Since 1992, the World Bank has offered and approved the extension to
Armenia of over $1.3 billion.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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