World Bank transfers $25 million to Armenia as first tranche of
$545-million loan

YEREVAN, July 4. /ARKA/. World Bank has transferred $25 million to
Armenia, Chairman of the Central Bank of Armenia Arthur Javadyan said
on Wednesday.

This is the first tranche of the WB’s $545-million credit to be sent to
Armenia over the period between 2009 and 2012.

`It is still difficult to say how quick these funds will be utilized.
The banking system is ready to extend credits. Now everything depends
on banking sector’s clients’, the CBA chairman said.

The World Bank has lent $1.2 billion to Armenia since 1992. M.V.-0–