WB will help Armenia and Kongo overcome financial crisis consequencesFebruary 27, 2009 - 16:53 AMT PanARMENIAN.Net - Armenia and Kongo will become the first countries to receive prompt assistance from the World Bank. A special program aims to alleviate the impact of the global economic crisis in developing countries.Armenia will be granted $35 million and Kongo - $100 million. According to WB statement, the grant, aimed at the initiation of road construction and small business investments, will secure 280 000 new job positions, Radio Svoboda reports. Earlier the WB Executive Directors Board has approved a $85 million loan to Armenia to alleviate impact of the global economic crisis. The loan maturity is 20 years with 10 years of grace period. The loan targets implementation of 4 projects: social investments fund ($8 million), small agricultural and rural business ($2 million), rural roads repair ($25 million) and Access to Finance for Small and Medium Enterprises Project ($50 million). Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |