Agence France Presse
February 27, 2009 Friday
World Bank fast-tracks aid to Armenia, DRCongo
WASHINGTON, Feb 26 2009
The World Bank said Thursday that it awarded its first fast-track aid
to Armenia and the Democratic Republic of Congo to help them cope with
the global financial crisis.
Armenia received 35 million dollars and DR Congo 100 million dollars,
the Washington-based development lender said.
The loans were awarded by the International Development Association
(IDA), an arm of the 185-nation bank that helps the world’s poorest
countries.
The so-called IDA Fast Track Facility was created with the aim of
speeding up grants and long-term, interest-free loans to fund
infrastructure, education, health and social safety nets.
The World Bank said its board approved the loans "amid clear signs
poor people in both countries are suffering from the crisis."