WORLD BANK FINANCING OF CARMAC PROJECT TO BOOST ARMENIAN AGRICULTURAL OUTPUT
CISTran Finance
June 25 2014
June 25, 2014 6:30 AM
By Lawrence Pinkel
The World Bank said recently it will finance approximately $33 million
towards Armenia’s Second Community Agricultural Resource Management
and Competitiveness (CARMAC) Project, pending approval from the board
of executive directors.
The project will provide 100 communities in Armenia with improved
productivity and sustainability of pasture and livestock systems.
Agriculture is the main source of employment for communities in rural
Armenia, which has been a World Bank member since 1992. The project
aims to improve market access and support commercialization for rural
communities, which could lead to enhanced employment opportunities.
“Enhancing productivity and strengthening market access of farmers
are key to reducing poverty and boosting shared prosperity in rural
areas,” Jean-Michel Happi, the World Bank country manager for Armenia,
said. “Project activities are devised in such a way as to mainly
benefit pasture users, farmer cooperatives, as well as food business
operators. At least 50,000 farmers are expected to participate in this
project through their membership in Pasture Users’ Cooperatives (PUC).”
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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