ISSUES ON OVERCOMING FINANCIAL CRISES AND INVOLVING MEANS FROM INTERNATIONAL FINANCIAL INSTITUTIONS DISCUSSED
ARMENPRESS
Nov 18, 2008
YEREVAN, NOVEMBER 18, ARMENPRESS: Armenian Prime Minister Tigran
Sargsian received today the representatives of World Bank Yerevan
office headed by the head of the office Aristomene Varudakis.
Public relations department of Armenian government told Armenpress
that the Armenian prime minister noted that the Armenian 2009 budget
draft has already been published, the program of events of Armenian
government for confronting the world financial crises has also been
presented to the Armenian parliament, where the necessity of conduction
of quick and combined actions is stressed.
The prime minister assured that the specialists of the World Bank
also stressed the importance of this approach in Washington.
According to Tigran Sargsian, Armenia could confront the first wave
of the world crises, but now the countries of the world are concerned
with the second wave of the economic crises and Armenia must also
prepare steps to smoothen its effect.
Tigran Sargsian offered the representatives of the World Bank to
discuss the implementation of the agreement reached during his visit
to Washington as soon as possible, which was connected with providing
an additional 250 million drams of credit to the sphere of small and
medium-sized business in Armenia.
The suggestion has been made taking into consideration the fact that
according to the World Bank procedures, the provision will finish
only in spring, 2009.
The prime minister pointed out that the Armenian program of crediting
of small and medium-sized business was considered the best in the
world by German KFW bank, and now there is an intention to implement
the succeeded experience by sharply increasing the sizes of crediting,
also taking into account the quite big demand.
Tigran Sargsian assured that the Armenian banks can and are ready to
distribute sums of great sizes. The Armenian prime minister informed
that based on Washington agreements he sent today a letter to the vice
director and the regional director of the World Bank looking forward to
the crediting of small and medium-sized business as soon as possible.
Armenian Prime Minister Tigran Sargsian noted that negotiations
are held with other financial institutions as well to involve the
necessary financial means.