WB willing to help Armenia improve ease of Doing Business

WB willing to help Armenia improve ease of Doing Business

YEREVAN, February 18. /ARKA/. The World Bank is ready to assist Armenia to make progress in its Doing Business rating, WB Executive Director Frank Heemskerk said at his meeting with Armenia’s premier Tigran Sargsyan Monday.

Armenia was the 37th in Doing Business index 2014, between Belgium (36th) and France (38th), ahead of Cyprus, Poland, Spain, Luxemburg and Italy.

Heemskerk congratulated the country on being now on the list of middle-income countries and said the WB is happy about Armenia’s progress in the index and high ambitions.

Armenia’s premier, in his turn, appreciated the cooperation with the World Bank.

A number of projects have been implemented in Armenia with assistance from the WB, Sargsyan said adding he is happy none of the projects was considered inefficient by the bank.

The premier briefed Heemskerk on the status of the country and said the government will continue institutional reforms to handle new challenges.

The sides discussed a wide range of issues and said close cooperation is important.

Since 1992 when Armenia gained its independence, the World Bank had provided $1,746 million for various programs till early November 2013. The programs include five loan projects on infrastructures, four projects in social field, another three – in public sector, two – in IT, as well as in rural sector. 

According to its strategy for cooperation with Armenia for 2014-2017, the World Bank will provide $873 million to the country. –0--

11:36 18.02.2014

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