Armenian Ministry of Finance, World Bank sign crediting agreements

January 26, 2011 - 15:53 AMT

PanARMENIAN.Net - Armenian Minister of Finance Vache Gabrielyan and the World Bank Country Manager for Armenia Jean-Michel Happi signed 3 crediting agreements for the period of 2009-2012.

Within the framework of the first program, the WB will allocate USD 25 million credit to Armenian government to decrease poverty level and stimulate the economy. USD 21 million will be allocated on preferential terms.

To implement the second program for elimination of reasons hampering introduction of innovations at the enterprises and creation of competitive electronic community, the WB will provide a credit of USD 24 million on commercial terms.

Beside, a sum of USD 19 million will be funded for the program on effective management of healthcare system, modernization of medical services in Armenian regions. The credit will be allocated on commercial terms.

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