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
Maufacturing of tobacco products increased by 49.1% to AMD 94 bn, with production of jewelry also climbing 61% to AMD 18 bn.
Net inflow of remittances to Armenia in the reporting period amounted to approximately $891,4 million, down by 35.8% remitted in 2014.
The EBRD will acquire a stake of around 20% for $30 million. The remaining $10 million will be used for future capital increases.
IFC thus aims to increase the stability of Armenia’s banking sector and support the strategic goals of Ameriabank.
Partner news