World Bank approves $21 mln loan for ArmeniaOctober 1, 2015 - 14:01 AMT PanARMENIAN.Net - The World Bank Board of Executive Directors approved Thursday, October 1, a $21 million loan for the Third Public Sector Modernization Project (PSMP III) for Armenia. This project will further assist the Government of Armenia in its on-going efforts to improve quality of the public financial reporting and to improve access to selected enhanced e-government services. PSMP III supports three main components: Public Financial Management Information Systems; e-Governance Solutions for Improved Service Delivery; and Capacity Building and Small Capacity Building Interventions. The first component will assist the Government to improve the efficiency, effectiveness and comprehensiveness of its financial management and accounting through the development of a Government Financial Management Information System (GFMIS). The proposed GFMIS modules will include improvement, among others, in budget planning, budget execution, public procurement, debt management, accounting, budget reporting, and the general ledger. The second component will support the implementation of select priorities as identified in Armenia’s e-Governance Strategy. Key elements will include: development of the enabling environment by strengthening policy, regulatory frameworks and building institutions and capacity within the government to undertake introduction of e-governance platforms, and introduction of foundational platforms and infrastructure necessary for government-wide e-services. The third component seeks to strengthen the capacity of the Civil Service Council and Armenian Academy of Public Administration to modernize the training system for public servants and raise the quality of trainings. The World Bank will provide a US$21 million IBRD fixed spread loan with a 14.5-year grace period and a total repayment term of 25 years. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |