RA PRIME MINISTER TIGRAN SARGSYAN RECEIVED HEAD OF THE WORLD BANK ARMENIA OFFICE ARISTOMENE VARUDAKIS AND COUNTRY SUPPORT STRATEGY MISSION COORDINATOR SAMIA MITRA.

Frida y, 17 April 2009

Pleased with the current level of World Bank-Armenia cooperation,
the Prime Minister pointed out that the program on the use of USD 50
million out of the World Bank-allocated USD 85 million-worth of loan
for supporting medium-size enterprise is gathering momentum. Tigran
Sargsyan said to be confident that other joint programs, too, will
be carried out successfully.

Aristomene Varudakis noted in turn that the 4-year bilateral
cooperation program has started quite successfully. He outlined
the draft strategy of country support program for Armenia which
as agreed will be submitted to the World Bank Board of Directors
for approval. Aristomene Varudakis advised that under this promptly
drafted paper, which has been agreed with the RA Ministry of Finance,
USD 20 million will be allocated to Armenia in addition to the already
agreed 525 million dollars. The head of the World Bank Armenia Office
made a point of harmonizing the country support strategy-specified
activities with the GoA-formulated programs with a special focus
placed on the social sector and the creation of new jobs in particular.

Prime Minister Tigran Sargsyan noted that the Armenian ministers
of finance and economy have already endorsed the draft support
strategy. What matters most now is to have the strategy approved
by the Bank so as to proceed to the practicalities as soon as
possible. According to the Prime Minister, this will second the
Government in its anti-crisis efforts.

Aristomene Varudakis and Samia Mitra expressed readiness to cooperate
with such donor countries and international organizations as are
prepared to provide Armenia with support lending.