Armenia to get $150 mln extra funding from World Bank

Armenia to get $150 mln extra funding from World Bank

PanARMENIAN.Net - International financial institutions positively assess fulfillment of the commitments Armenia assumed in the framework of the cooperation, according to Armenian Prime Minister.

As Tigran Sargsyan said during a meeting of the board of trustees of the National Competitiveness Foundation of Armenia, this relates to the implementation of the programs of Extended Fund Facility – EFF and Extended Credit Facility – ECF with the International Monetary Fund (IMF).

He further said that IMF gave positive assessment to macroeconomic stability, as well as the financial field and the banking system.

According to the PM, the World Bank also hailed the implementation of bilateral programs.

“This implies that Armenia will receive USD 150 mln. additional funding, that will foster reform implementation process,” he said.

PM Sargsyan further noted that European Bank for Reconstruction and Development (EBRD), as well as the Asian Development Bank (ADB) also voiced satisfaction with cooperation with Armenia.

 Top stories
The Commission aims to compensate producers who decide to not harvest some of their goods or give products away for free.
The Energy Minister thanked “our friendly country, Armenia” and his Armenian counterpart “for providing a huge assistance”.
"There have been no new talks on gas exports to Europe, but there are routes and facilities which we need to use," Majedi said.
"We are particularly pleased by a 15 percent rise in lending to small and medium-sized businesses,” the bank’s financial director said.
Partner news