World Bank may allocate about $118 mln. to Armenia

PanARMENIAN.Net - The World Bank may allocate $118 mln. to Armenia in 2012, according to the World Bank Country Manager for Armenia.

As Jean-Michel Happi told a press conference, WB Board of Executive Directors has already confirmed assigning $80 mln. to the Third Development Policy Operation (DPO) and $11 mln. in the framework of the Third Social Investment Fund Project for Armenia. In addition, WB intends to allocate $12 mln. for fostering implementation of tax administration reforms, while the financial credit for improving water supply system in urban communities totals $15.

In this context, Jean-Michel Happi noted that WB currently discusses a number of projects with the Armenian government aimed at economic development, poverty reduction, reconstruction of roads and irrigation systems, as well as boosting access to education for the most vulnerable layers of society.