PREMIER WB PROGRAMS TO MITIGATE GLOBAL CRISIS EFFECTS IN ARMENIA

ARKA
Feb 23, 2009

TSAKHKADZOR, February 23. /ARKA/. The programs to be implemented by
Armenia together with the World Bank concern all sectors, Armenian
Premier Tigran Sargsyan said at the briefing within the sixth
"Bridge-2009" international economic forum Saturday.

Prompt implementation of these programs will mitigate negative impact
of the global financial economic crisis, he said.

The target of the $525mln worth WB programs is formation of
infrastructures and educational reforms in particular, the Premier
said in answering the question of ARKA Agency.

The World Bank intends to extend a $525mln worth loan to Armenia for
implementation of new programs, technical assistance and consulting
services for four years.

The Premier also pointed out the productive cooperation with the
Asian Development Bank (ADB), particularly in terms of the North-South
motor road construction.

Under the rural road construction program, the ADB allocated a $30.6mln
worth loan to Armenia for construction of rural roads and an additional
loan of $17.3mln.

Sargsyan also said the EBRD will be attaching particular importance
to crediting of small and medium businesses, share contribution and
support to private sector.