WB to provide additional financing of $7 and $5 millions to Armenian programs
2010-02-26
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YEREVAN, FEBRUARY 26, ARMENPRESS: The Board of Directors of the World
Bank approved the provision of 7 million USD loan as an additional
financing of the `Social Investment Fund in Armenia’ program and the 5
million USD loan for the additional financing of `Social Insurance
Administration’ program.
Director of the WB Armenia Office Aristomene Varudakis said today at a
press conference that the two loan programs are aimed at assisting to
the efforts of the RA government directed toward improving the social
condition of the Armenia’s population.
He said the first program will promote the increase of the living
conditions of socially insecure and vulnerable groups of people.
`Armenia has infrastructural gaps – schools, kinder-gartens, water
pipelines, clinics need repair and reconstruction. The program is
mainly for rural areas,’ Varudakis said. With the implementation of
the program new jobs will be created, with initial calculations
annually 200.
The second program is aimed at expanding the works directed toward
improving the social services in Armenia. The main target group are
the job seekers, young people wanting to make a career, unemployed
population of rural areas as well socially insecure and vulnerable
families, handicapped people, pensioners. The additional financing
will support in the restoration of county offices providing social
services, as well as in works directed toward the reforms in the
pensions system.