WORLD BANK INTERESTED IN STRENGTHENING ARMENIA’S ACHIEVEMENTS

ARKA
April 7, 2008

YEREVAN, April 7. /ARKA/. Armenia can be proud of many things, and the
World Bank is interested in maintaining and strengthening the country’s
achievements, said the WB Director Donna Dowsett-Coirolo said at his
meeting with the President-Elect of Armenia Premier Serge Sargsian.

According to Armenia’s National Statistical Service, economic growth
was 10.1% in January-February as compared with the same period of
last year. In 2007 economic growth was 13.7% against 2006.

At the meeting Dowsett-Coirolo said that Armenia still faces several
challenges requiring serious attention and measures, the government
press service reported.

The sides discussed the challenges and the reforms and agreed to
consider the issues in more detail after the inauguration of the
president and the formation of a new cabinet.

In his turn, Sargsian attributed economic progress and some
achievements of the country to permanent involvement and support of
the World Bank.

He also said that during his visit to Washington this year positive
opinions were received on Armenian economy and the reforms implemented.

Shigeo Katsu, the WB Vice-President on Europe and Central Asia who
arrived in Armenia after this visit pointed out that cooperation with
Armenia is one of the programs one should not worry about, Sargsian
said. The Premier appreciated these evaluations.

He also expressed readiness to continue implementing reforms important
to the economy and the society.

Armenia aims at increasing competitiveness as a result of tax and
customs reforms and is expecting for WB’s support on the matter.

The World Bank has extended loans for total of $1.1bln on 48 programs
to Armenia over the period of cooperation with the country since
1992.