Armenian Minister of Finance Gagik Khachatryan and World Bankās Regional Director for theĀ South Caucasus Mercy Tembon signed a loan agreement today, under which the World Bank will provide Armenia with a loan of $55 mln with a 25 year maturity period, of which 14.5 mln will be soft loan.
The āLocal Economy and Infrastructure Development Programmeā loan agreement signed with the International BankĀ for Reconstruction and DevelopmentĀ (IBRD) envisages improvement of infrastructure and institutional capacities in Ararat, Vayots Dzor and Lori provinces, thus boosting the development of tourism in the regions.