YEREVAN, MARCH 19, NOYAN TAPAN. The World Bank's "stabilization" credits worth 50 million USD will be transferred to Armenia within two weeks. The minister of finance Tigran Davtian stated at the March 19 sitting of the government that this money will be spent on financing the programs on development of small and medium business. The right to place the loans will be reserved for the Central Bank of Armenia which will provide loans to commercial banks, while banks in their turn will give credits to small and medium enterprises. In the words of the prime minister Tigran Sargsyan, steps are also being taken to attract additional financial resources because demand for loans is greater. He said that agreements aimed at establishing cooperation among small and medium enterprises engaged in various sectors have been signed with international organizations.

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