RA PRIME MINISTER TIGRAN SARGSYAN RECEIVED A MISSION FROM THE WORLD BANK’S DEVELOPMENT POLICY LENDING PROGRAM DESIGN DIVISION, HEADED BY SENIOR ECONOMIST FOR ARMENIA ROBERT TALIERZO.

PUBLIC RADIO OF ARMENIA

Tuesd ay, 7 April 2009

Robert Talierzo thanked the Armenian Prime Minister and the Government
for cooperation by noting that the mission has conducted fruitful
discussions with the local ministries and agencies concerned.

Mr. Talierzo informed Tigran Sargsyan on the status of the 3-year
country support lending program development activities currently
underway at the World Bank. He noted that the mission has already
discussed this year’s lending program with corresponding Armenian
agencies. The 2010-2011 programs were said to have been left for
discussion during a next mission scheduled for the last decade of
this month.

The Prime Minister was further briefed on the mission’s recommendations
regarding such action as may need taking in anticipation of
the first lending program which was said to have an anti-crisis
bias. Mr. Talierzo stressed the need for earmarking additional funds
to the social sector first of all. The mission head appreciated the
steps so far taken by the Government, including the set of legislative
initiatives providing for increased small and medium-size enterprise
support, improved business environment etc. Prime Minister Tigran
Sargsyan concurred with Mr. Talierzo.

The pa rties have agreed in that the package of proposed action will
be finalized once the Government of Armenia, the World Bank and the
IMF come to an agreement on Armenia’s macroeconomic forecasts. Prime
Minister Tigran Sargsyan accepted the proposal on establishing a task
force to formulate more accurate macroeconomic forecasts and develop
a number of scenarios.

Robert Talierzo said the Bank is prepared to support Armenia and
as soon as the preliminaries for this year’s program are finalized,
the mutually agreed document will be submitted to the World Bank’s
Board of Directors for consideration.