World Bank to provide another 35 million dollars to Armenia
02-03-2009 20:00:00 | Armenia | Economy
YEREVAN, FEBRUARY 27, NOYAN TAPAN. The World Bank announced
that the first assistance by a simplified system will be
provided to Armenia and Congo to help these countries overcome
the consequences of the global financial crisis. According to
Radio Liberty, the WB International Development Association
(IDA) has allocated a loan of 35 million USD to Armenia and a
loan of 100 million USD to Congo.
The World Bank has recently approved a package of 4 loans
of a total of 85 million USD for Armenia, as well as the Global
Ecological Fund's 1.5 million dollar grant to be provided to the
country.
The Armenian prime minister Tigran Sargsyan told Radio
Liberty that the Armenian government and the World Bank had
reached an agreement on 525 million USD. "These programs will be
aimed at forming infrastructures and making reforms in the
educational system, that is, our programs with the World Bank
are related to all sectors. I think that rapid and efficient
implementation of these programs will reduce the negative impact
of the global economic crisis on us," the prime minister said.