ARMENIA MAY GET ADDITIONAL $150 MILLION FINANCING FROM WORLD BANK
/ARKA/
APRIL 2, 2012
YEREVAN
YEREVAN, April 2. /ARKA/. Armenia may receive from the World Bank
additional financing in the amount of $150 million, prime minister
Tigran Sargsyan said Saturday at the meeting of the Board of Trustees
of the National Competitiveness Fund. He said the World Bank praised
Armenia’s successful implementation of bilateral programs.
“This means that the surplus funds of the World Bank will be
reallocated in our favor and we will get additional funding to the
tune of $150 million, which will help us carry on with the reforms” he
was quoted as saying by the government press office. He also reminded
that Armenia has improved its position in the Doing Business ranking
by six notches, moving up to the 55th position.
“We need to give additional force to our work to achieve new successes
– that is to continue the implementation of major reforms” he said.
The prime minister also informed that the IMF has completed the
monitoring of its extended fund facility programs implemented in
Armenia.
“The work we have done and its results were assessed excellent.
Moreover, we have over-fulfillment and in this regard we have received
high praise from the IMF”, said Sargsyan.
Armenia is likely to get a fresh tranche of the International Monetary
Fund (IMF) in the amount of $56 million by the end of May, head of
the Armenian IMF Mission Mark Horton said at a press conference last
week following the visit of the IMF mission to Armenia. Funds will be
provided on the basis of the fourth and final inspection of Extended
Fund Facility and the Extended Fund Facility programs.
Sargsyan said the International Monetary Fund praised Armenian
government for securing macro-economic stability. ‘Now we can look
calmly to the future”, he said.
The prime minister also expressed satisfaction with cooperation with
the European Bank for Reconstruction and Development and the Asian
Development Bank. The latter has pledged $500 million to finance the
construction of North-South transport corridor.
According to Sargsyan, the cooperation with EU is also successful;
as a result, the EU said it will start soon negotiations on the deep
and comprehensive free trade area with Armenia.
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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