World Bank to provide Armenia with $424 million assistance before the end of Q 1, 2011
World Bank to provide Armenia with $424 million assistance before the end of Q 1, 2011ARKA, 18.06.2010
Aristomene Varoudakis, head of World Bank Yerevan Office, said today the World Bank will provide Armenia with $424 million worth assistance before the end of the first quarter of 2011.
Overall the World Bank has committed to provide Armenia with $550 million aid in 2009-2012. At this point it has disbursed already $270 million to finance various projects in Armenia.
Speaking at a news conference today Mr. Varoudakis said six more projects with a total budget of $154 million were being elaborated and would be submitted to World Bank executive directors board approval late this year or early next year.
He said these projects have been designed to repair rural life-line roads, renovate and furnish regional hospitals with equipment, support agriculture, energy, IT sectors.
He said the bank will provide Armenia with $126 million within 2011-2012. According to him the $424 million commitment is equal to what Armenia received form World Bank in 2000-2008.-0-
