YEREVAN, October 24. /ARKA/. The World Bank has allocated over $83 million to Armenia within the framework of Armenia’s Social Investment Fund (ASIF) over the past 17 years, Jean-Michel Happi, the World Bank's Country Manager for Armenia, said Wednesday at “Prospects for development of social investment funds of Armenia and Moldova” conference, October 24-25.
The conference is organized under the initiative of Armenia’s government and the World Bank in Yerevan.
Since 1996 ASIF has developed three programs, two of which have already been implemented, and the third will have been finished in 2014. The Fund implemented micro programs in nearly 850 communities of Armenia.
The World Bank has been assisting Armenia in developing social infrastructure in the communities since 1996, and has already allocated over $83 million, Mr Happi said.
According to him, the role of the Fund is really important here, as it fosters the construction of infrastructure and improvement of the service sphere.
He also pointed out to the necessity of continuing improving the infrastructure in Armenian communities and designing the new strategy for that.
On his side, Vice Premier, Minister of Territorial Administration of Armenia Armen Gevorgyan said the Fund has demonstrated efficient performance not once. It constructed and repaired hundreds of schools and kindergartens, as well as improved water supply system in many communities.
Along with that, Mr Gevorgyan said it is important to continue such activity, as infrastructure, water supply, educational and medical establishments still need lots of improvements in Armenia.
“We believe, the further performance of the Fund must expand over new spheres, as it has quite a rich experience in developing strategies and mechanisms,” he added.
According to Vice Premier, besides resolving the mentioned issues, the Fund may also create new jobs, stimulate entrepreneurship, and improve social conditions in the republic.
Since 1992 the portfolio of the World Bank includes projects valued at over $1.5 billion. -0-