WB $20 MLN WATER-SUPPLY CREDIT IS SIGNED IN YEREVAN

YEREVAN, APRIL 15. ARMINFO. A credit agreement on allotting $20 mln by
the World Bank for realization a program on improvement in Yerevan
both the water-supply system and the pipe-bend of sewage was signed
today in Yerevan by Armenian Minister for Finances and Economy Vardan
Khachatryan and Director of WB Yerevan Office Roger J. Robinson.

As ARMINFO was informed at the Ministry, the Program will help to
regulate the safe and reliable water-supply in Yerevan, to shorten the
pollution of environment and to increase a level of energy
economy. The WB will also give a technical assistance for conducting
financial and technical audit of the Program, management of “Yerevan
water-channel” and operation expenses. A new operator of water-supply
system will be chosen on the tender base to realize the Program. It
will start its activity according to the 5-year leasing agreement.

To note, it is the second WB water-supply privileged credit allotted
on 40 years with 0.75% annual profits and privileged period for
payments within the first 10 years. The first $30 mln credit has been
realized in Yerevan since May 2000 and will be completed in May 2005.
WB has realized in Armenia 38 credit programs (on sum total $860 mln)
since 1993. -r-