WB TO PROVIDE ARMENIA WITH $9 MILLION LOAN

Aysor
March 17 2010
Armenia

The World Bank has approved a $9 million loan to Armenia to finance
the second project of modernization of social sector.

A spokesperson for WB said that the loan’s objective is to contribute
to Armenian government in developing and improving the sphere of
social services and management. Besides, it aims at developing the
system of compensation package, providing its movement towards system
of personal working contributions, and improving the system of access
to available at government information.

"Bank’s key objective and priority issue is the one of strengthening of
management. When efforts are making to develop platform of management
and fight against corruption, some important challenges still remain,"
said WB Country Director for South Caucasus Asad Alam.