WB to Allot Armenia $20 Million Credit

PanARMENIAN.Net - The World Bank has confirmed the decision to allocate a $20 million credit to Armenia within the Poverty Reduction Program. As WB Yerevan Office representative Gohar Gyulumyan stated at a news conference, the credit will be spent on conduction of monitorings of the government's macroeconomic program, reduction of social risks, agriculture development as well as promotion of competition in the civic aviation and railway fields. Gohar Gyulumian explained that the matter concerns liberalization of the Armenian civic aviation with the purpose to attract more tourists and implementation of cooperative management in Railway CJSC. To note, since 1993 the World Bank has rendered Armenia credits totaling in $916 million, reported Mediamax.