PRIME MINISTER OF ARMENIA: OUR PROGRAMMES TO PRIMARILY AIM AT SOLUTION OF SOCIAL PROBLEMS

ArmInfo
2009-03-05 12:57:00

ArmInfo. Upon the results of negotiations with the World Bank and
the International Monetary Fund, the strategic partner regulated
the provisions of a mid- term programme of the Armenian government
aimed at overcoming of the financial and economic crisis during 3-4
years. The programme financing volumes have also been determined,
Prime Minister of Armenia Tigran Sarkisyan said in an interview with
the Public TV of Armenia commenting on March 3 situation with 20%
fall of the Armenian dram.

As he said, the IMF has already agreed to extend credit to Armenia at
the rate of $540 mln. $240 mln of which will be granted immediately,
and the rest amount – on a quarterly basis. The World Bank will also
extend $525 mln credit to Armenia to be directed to the different
economy sectors. The Russian prime minister also confirmed the
intention of Russia to extend $500 mln credit to Armenia which will
help Armenia to overcome the global economic crisis. ‘I am not going
to bring the examples of other partners the negotiations with which
have been completed – the Asian Development Bank, EBRD, Black Sea
Development Bank, which will also provide Armenia with funds’,
T. Sarkisyan said. Of course, these funds will help to take some
steps to change the expenditures. The preference will be given to
the social programmes, in particular, the programmes concerning
the pensioners, social allowances and salary increase. The second
direction is development of infrastructures, that will allow to
assure the republic’s life activity. The third direction is financial
assistance to the enterprises having some temporary difficulties or
which create new jobs. ‘We shall render assistance by any means in
order to mitigate the social, tension’, T. Sarkisyan said.