WB BOARD APPROVES US $36.6MLN LOAN FOR ARMENIA

Information-Analytic Agency NEWS.am
Aug 28 2009
Armenia

On August 27, the WB Board approved an additional, US $36.6mln, loan
to the Republic of Armenia for the Lifeline Roads Improvement Project
(LRIP).

The WB press service reported that this additional loan will help
mitigate the impact of the financial crisis by creating temporary jobs
in road construction. The additional loan will finance the scaling
up of the project’s activities through rehabilitating an additional
140 kilometers of the lifeline road network. The work is to get under
way late this September.

The WB has allocated a total of US $1bln to Armenia over the last
17 years.