WB GIVES POSITIVE ASSESSMENT TO RA GOVERNMENT’S ANTI-CRISIS POLICY

/PanARMENIAN.Net/
17.12.2009 17:56 GMT+04:00

/PanARMENIAN.Net/ World Bank gives positive assessment to RA
government’s anti-crisis policy, yet we don’t see Armenia’s future
in construction, but rather in economy diversification, head of World
Bank Yerevan Office Aristomene Varoudakis said.

"Though, in itself a correct policy line, 2009’s policy of construction
development did not just justify itself in Armenia," he told the news
conference in Yerevan.

In this context, the head of World Bank Yerevan Office noted that donor
organizations’ short-term credit programs implemented in Armenia were
aimed at creation of jobs, social conditions improvement and country’s
competitiveness increase. He reminded that USD 108 million of Russia’s
credit were directed towards mitigation of crisis consequences and
USD 50 million allocated by WB to assist small and medium business.

Also, part of the means (USD 10 million) were allocated as state
guarantees to construction works in Gyumri, "which has a major social
importance; many people who lost homes in the earthquake will be
provided with apartments."