WB EARMARKS $105 MILLION FOR ARMENIA
ARKA
March 4, 2009
YEREVAN, March 4. /ARKA/. The World Bank (WB) has earmarked 105mln
for Armenia as part of its assistance strategy, said Vigen Sargsyan,
press secretary of the WB Yerevan Office.
As part of the WB four-year assistance strategy worth $525mln,
Armenia has received $85mln for four programs, with another $20mln
being earmarked for the water supply program last year.
As part of its program for small and medium-sized businesses, WB has
allocated $50mln for Armenia. The program aims at making long-term
loans affordable for the country’s small and medium-scale enterprises,
said WB Country Manager Aristomene Varoudakis.
The project will boost small and medium-sized businesses in Armenia
and local banks involved in the program, he added.
On February 24, WB approved an $85mln project to assist Armenia’s
small and medium enterprises amid the global economic crisis.
The bank has allocated $1.162bln for Armenia since 1992. With 16
projects under way, WB is planning to assign additional $94mln for
their implementation.
From: Emil Lazarian | Ararat NewsPress
