  WB to subsidize $525 million to help Armenia mitigate financial crisis impactFebruary 23, 2009 - 14:19 AMT PanARMENIAN.Net - The World Bank intends to subsidize Armenia with $525 million to help mitigate financial impact upon Armenia's economy. "The WB projects will be aimed at infrastructure formation and education systems reforms," Armenian Prime Minister Tigran Sargsyan said during Bridge 2009 International Economic Forum. The PM also informed that the Asian Development Bank subsidized Armenia with $30,6 million for rural road construction (including Northern-Southern highway), as well as an additional credit of $17,3 million. "The European Regional Development Fund will be in charge of crediting small and middle businesses and private sector-oriented programs," Sargsyan said.   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 |  Related sections Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |
