WB to allocate us $90mln for rural community development in Armenia

YEREV AN, May 31. /ARKA/. The World Bank (WB) will allocate US $90mln
for the development of Armenia’s rural communities, Head of the WB
office in Yerevan Aristomene Varoudakis reported at the 3rd annual
forum on the development of rural communities in Armenia.

Varoudakis pointed out that US $30mln are intended for the renovation
of irrigation systems, and US $60mln for rural road construction.

The WB attaches high importance to the construction of rural roads
because 40% of agricultural produce become unmarketable due to bad
roads, Varoudakis said.

He said that the program provides for the construction of 250km of
roads in 2009-2010.

Varoudakis expressed hope that the program will enhance the quality of
and competitiveness of Armenian agricultural produce in the
Commonwealth of Independent States (CIS).

He also reported that the WB will continue funding local programs of
rural community development. He pointed out that the WB has already
funded 140 programs.

Varoudakis said that the WB will continue crediting small agricultural
enterprises. He reported that 100 credits to the total amount of US
$5mln.

Varoudakis stressed that Armenian agricultural produce can be
competitive on international markets, and the WB will continue its aid
to Armenia.

The WB’s 4-year credit package is US $545mln. The funds are to be
allo
cated to small and medium-sized enterprises, small-scale investment
projects in the poorest communities in Armenia, as well as for the
development of small agribusinesses, renovation of lifelines.`0–