WB APPROVES OF PROGRAM IMPLEMENTATION IN ARMENIA

ARKA
July 21

The World Bank is content with the results of its programs in Armenia,
WB Director of Infrastructure Sector in Europe and Central Asia Peter
Thompson told Saturday Armenian journalists.

WB has been assisting Armenia since the early 1990s. The initial
focus on WB-Armenia cooperation was energy. Thompson said WB is now
elaborating renewable energy projects with Armenia.

He stressed the importance of WB assistance to the country’s
agriculture and other sectors. Last week the WB Director of
Infrastructure Sector and Armenian government members discussed
WB-Armenia cooperation prospects. The bank will submit its new
four-year assistance program to Armenia by October, Thompson said.

WB has allotted about $1.1bln for 52 credit programs in Armenia. The
International Development Agency (IDA) had extended only lax credits
to the country by 2006. As of July 1, 2006, Armenia gets EBRD loans
for average-income countries.