ARMENIA EXPECTS TO RECEIVE WB ASSISTANCE TO OVERCOME CONSEQUENCES OF GLOBAL FINANCIAL AND ECONOMIC CRISIS

ArmInfo
2009-01-27 15:37:00

ArmInfo. Armenia expects to receive assistance from the World Bank
and other international financial organizations to overcome the
consequences of the global financial and economic crisis, the message
of the Armenian governmental press service says.

According to the source data, these issues were discussed in Yerevan
on Tuesday during the meeting of Armenian Prime Minister Tigran
Sarkisyan with WB Vice President Shigeo Katsu. The PM expressed hope
that cooperation with WB, as well as the Washington meetings with
leadership of the Bank in 2008 and the agreements reached "will make
it possible to justify the hopes of the Armenian people as regards
further cooperation". It was noted that Armenia succeeded to overcome
the first wave of the global financial and economic crisis. According
to T. Sarkisyan, the emphasis in the government’s anti-crisis programme
will be placed on increase of expenses for recovery of irrigation,
energy and road infrastructures. T. Sarkisyan added that the government
successfully negotiates with other financial organizations, the Asian
Development Bank, The European Bank for Reconstruction and Development
and the Black Sea Trade and Development Bank.

As it was reported earlier, WB will approve the strategy of assistance
to Armenia for 2009-2012 in March, 2009. The government of Armenia
requested $800 mln from WB for 4-year period. The total amount of
the bank’s assignments since 1992 till now exceeded $1 bln.