ARMENIAN GOVERNMENT AND WB SIGN THREE CREDIT PROGRAMS WORTH $34.3 MLN

YEREVAN, JULY 30. ARMINFO. The Armenian Government and the World Bank
signed today three credit programs worth a total of $34.3 mln.

Armenia’s Finance and Economy Minister Vardan Khachatryan says that
$10.15 mln will be spent on the modernization of the state sector, $19
mln and additional $1.250 mln grant on the improvement of the health
care system and $5.15 mln on the social sector.

Khachatryan says that it’s for the first time that the WB is lending
money on state administration reforms in Armenia. The money will be
used for introducing digital signature to make the sphere more
transparent and efficient. In the health care sector the money will be
spent on repairs of medical instititions, purchase of equipment,
training of doctors and developing the institution of family
doctor. In the social sector the funds will be used to establish
computer communication with regional social security services,
repairing employment offices, holding pension reforms.

Khachatryan says that the Armenian Government ha changed the form of
cooperation with the WB and now all credit programs will be signed in
Yerevan.

The loans will be provided through International Developent
Association for 40 years at 0.75% the repayment period starting in 10
years. Since 1992 the WB has implemented in Armenia 36 programs worth
a total of $820.80 mln.