WORLD BANK TO PROVIDE ADDITIONAL CREDIT OF 5 MILLION DOLLARS FOR DEVELOPMENT OF ARMENIA’S IRRIGATION SYSTEMS

Noyan Tapan
Dec 04 2007

YEREVAN, DECEMBER 4, NOYAN TAPAN. The RA National Assembly on December
4 ratified the Agreement on Additional Financing of the Program on
Development of the Irrigaion Systems signed between the Republic of
Armenia and the International Development Association of the World
Bank on September 19, 2007. In accordance with this agreement, Armenia
will receive a 5 million-dollar credit with a 0.75% interest rate on
concessional terms. The credit is to be repaid in 2018-2027. It will be
used to develop intraeconomic networks of Armenia’s irrigation system.