VARDAN KHACHATRIAN AND JUAN MIRANDA DISCUSS DETAILS OF CREDIT PROGRAM OF ASIAN DEVELOPMEMT BANK

Noyan Tapan
Mar 22 2007

YEREVAN, MARCH 22, NOYAN TAPAN. The RA Minister of Finance and
Economy Vardan Khachatrian on March 22 met with Juan Miranda, Director
General of the Central and Western Asia Regional Department of the
Asian Development Bank (ADB).

According to the RA Ministry of Finance and Economy, Mr. Miranda came
to Armenia with the aim of discussing details and implementation
process of programs envisaged by the agreement between Armenia and
the bank.

During the meeting, the interlocutors discussed a number of
issues related to Armenia-ADB cooperation, including the issue of
implementing the program on 66 mln dollar credit to be provided by
ADB to Armenia. The sides agreed to sign this credit agreement during
a meeting in Milan in February. Juan Miranda said that several ADB
missions will visit Armenia in order to become acquainted with the
programs and problems related to them on the spot.

Being a new international financial partner of Armenia, ADB plans to
implement a number of programs to promote the Armenian economy. Out
of the indicated sum of 66 mln USD, it is envisaged to allocate 30
mln USD for repairs of about 230 km of community roads, and about 30
mln USD – for repairs of water supply systems and solution of social
problems in marzes. Agriculture, transport, as well as the social
and private sectors are possible spheres of cooperation with ADB.