World Bank Vice President to visit Armenia

PanARMENIAN.Net - World Bank Vice President for Europe and Central Asia, Mr. Philippe Le Houérou, will travel to Armenia from September 9 to 12. The aim of his visit is to discuss with the country’s leadership – the President, Prime Minister and senior government officials - as well as development partners, business community, and civil society the recent economic and social developments, and the possible ways in which the World Bank can support the economic recovery in the country.

“I am pleased to see the revival of growth after the economic crisis and we need to work together with the Armenian Government to manage future macroeconomic volatility and risks, to strengthen the foundations for economic recovery", said Philippe Le Houérou. “The World Bank will continue supporting programs to stimulate growth and new jobs, and support the poor and the vulnerable. These include rural road works, social spending for the poor, water services, the rehabilitation of health care centers and other projects.”

While in Armenia, Mr. Le Houérou will visit World Bank supported project sites – a newly reconstructed hospital in Armavir town, the rehabilitated Armavir main canal, the rehabilitated courthouse of the first instance in Shengavit district, and a hydro-power plant in Dilijan. He will assess the process of construction of Marmarik Dam in Hankavan as well as participate in an opening of Central Veterinary Laboratory in Erebuni district of Yerevan.

Mr. Le Houérou will also participate in a Policy Forum, a one and a half day high level session in Dilijan, organized jointly by the World Bank and the Government of Armenia. The forum titled “Armenia after the Crisis: Challenges and Opportunities” will focus on how post-crisis public policies can promote investment, exports, and poverty reduction in Armenia, and how the World Bank can further help in this effort.

The World Bank launched the Armenia Country Partnership Strategy (CPS) for 2009-2012 in June 2009. The Armenia CPS was prepared in the context of the global economic crisis and its impact on the country. It focuses on the near-term needs of addressing vulnerability and mitigating the adverse poverty effects of the crisis as well as laying the foundation for promoting medium term competitiveness and growth. The CPS provided for new IDA/IBRD lending of $545 million over 2009-12. Since the inception of the World Bank’s program in Armenia the Bank’s lending has totaled to US$ 1.373bln for 54 projects.