WORLD BANK TO PROVIDE ARMENIA WITH $200 MILLION FUNDS IN FRESH LOANS

/ARKA/
May 27, 2011
YEREVAN

YEREVAN, May 27. / ARKA /. The World Bank (WB) will provide Armenia
with $200 million funds in fresh loans, head of WB Yerevan Office,
Jean-Michel Happi said today. Speaking to a news conference he said
an agreement to that end was reached lately by WB and the Armenian
government.

“Within one month, until the end of June, when WB fiscal year ends, we
will define with the government the areas to channel the lending into.

And in the next two fiscal years, i.e. until June 2013, we will
allocate $200 million worth loans to Armenia”, he said.

He said also during the current fiscal year the World Bank has
allocated $126 million to Armenia, which were spent on financing
projects in the fields of electronic governance, health, budget
support and agriculture.

From: Emil Lazarian | Ararat NewsPress