World Bank allocates 6m dollars to Armenia’s social security sphere

Public Television of Armenia, Yerevan
21 Apr 05

[Presenter] The board of directors of the World Bank has approved a
credit programme which envisages the allocation of about 6m dollars
for improving the social security sphere in Armenia.

[Correspondent over video of presentation ceremony] The World Bank
[WB] programme on allocating a credit of 5.71m dollars to Armenia
is aimed at developing and improving the social security and pension
systems and modernizing the information system. The director of the
WB office in Yerevan, Roger Robinson, noted that the social sphere
in Armenia is the most efficient in the CIS.

Armenian Minister of Social Welfare Agvan Vardanyan said it
is important that the World Bank, which has great experience in
assisting this field in many countries, is the main partner of the
credit programme. This is the first time in the history of independent
Armenia that a credit has been allocated to the social sphere.

[Armenian Minister of Social Welfare Agvan Vardanyan] If up till now
we have had various international programmes, grants and aid, this
is the first credit programme, and responsibility for the efficient
distribution of a credit is much greater.

[Correspondent] The credit programme allocated to the social security
sphere is expected to be completed by 30 June 2007.

Lianna Karapetyan, Akop Sarkisyan, “Aylur”.