WB to subsidize $525 million to help Armenia mitigate financial crisis impact
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.
"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.
