WORLD BANK TO PROVIDE 43 MILLION DOLLARS FOR RECONSTRUCTION OF NORTH-SOUTH (GEORGIA-ARMENIA-IRAN) ROAD CORRIDOR
Noyan Tapan
Dec 18, 2009
YEREVAN, DECEMBER 18, NOYAN TAPAN. By the World Bank’s 4-year
(2009-2011) credit program, it is envisaged providing 550 million
USD to Armenia, including 100 million to the RA state budget and 450
milion USD for state investment projects, Head of WB Yerevan Office
Aristomene Varudakis announced at the December 17 press conference.
He said that in 2010, 8 projects will be submitted to the World Bank’s
Board of Executive Directors for approval, after which they will be
ratified by the National Assembly of Armenia. 25 million dollars to
be provided under these projects will be used for budget support,
reforms in tax and customs sector, and improvement of the body
conducting the policy on competition.
According to A. Varudakis, about 7 million USD will be allocated
to the Social Investment Fund to provide assistance to 37 community
development programs, and 5 million USD will be spent on improvement
of the social protection administration system, especially on
modernization of territorial centers delivering social services.
Besides, 24 million USD will be provided for the IT industry
development programs to create broadband channels in Armenia’s remote
regions as well.
A. Varudakis announced that it is envisaged providing 43 million
USD for reconstruction of the North-South (Georgia-Armenia-Iran)
road corridor. 36 million USD will be allocated for repairs of power
transmission lines, and 14 million USD – for implementation of a
rural development project.