Armenia expecting additional funds from WB
25.05.2009,
18:07
Armenia is expecting additional funds from the World Bank (WB), Armenian Premier Tigran Sargsyan told journalists.
YEREVAN, May 25. /ARKA/. Armenia is expecting additional funds from the World Bank (WB), Armenian Premier Tigran Sargsyan told journalists.
Total loan package under WB four-year strategy amounted to $545mln.
The country is interested in implementation of these programs at a high pace, he said.
If we manage to implement the programs quicker, we expect getting additional financial means from the WB. Our application is for twice as more as the amount we get currently,” the Premier said.
He also reported negotiations with the Asian Development Bank. “We are to soon form a large investment package with the Asian Development Bank, which will supplement the funds we receive from the IMF and the World Bank,” the head of the government said.
Together with ADB means and the Russia loan, these funds will provide an essential opportunity to mitigate all the negative consequences of the crisis, Sargsyan said. ADB funds will be directed to construction of North-South highway, rural roads and loans to small and medium businesses, the Premier added.
Under its program of cooperation with the Armenian Government the International Monetary Fund (IMF) has already transferred $240mln out of $540mln envisaged for the country; the remaining $300mln is to be transferred within the next two years.
The Republic of Armenia became a member of the Asian Development Bank (ADB) on September 20 2005. There are a number of agreements and a memorandum of understanding signed between the Armenian Government and the ADB. Total value of ADB-implemented projects on construction of rural roads and water supply is $83mln in Armenia. –0--
Total loan package under WB four-year strategy amounted to $545mln.
The country is interested in implementation of these programs at a high pace, he said.
If we manage to implement the programs quicker, we expect getting additional financial means from the WB. Our application is for twice as more as the amount we get currently,” the Premier said.
He also reported negotiations with the Asian Development Bank. “We are to soon form a large investment package with the Asian Development Bank, which will supplement the funds we receive from the IMF and the World Bank,” the head of the government said.
Together with ADB means and the Russia loan, these funds will provide an essential opportunity to mitigate all the negative consequences of the crisis, Sargsyan said. ADB funds will be directed to construction of North-South highway, rural roads and loans to small and medium businesses, the Premier added.
Under its program of cooperation with the Armenian Government the International Monetary Fund (IMF) has already transferred $240mln out of $540mln envisaged for the country; the remaining $300mln is to be transferred within the next two years.
The Republic of Armenia became a member of the Asian Development Bank (ADB) on September 20 2005. There are a number of agreements and a memorandum of understanding signed between the Armenian Government and the ADB. Total value of ADB-implemented projects on construction of rural roads and water supply is $83mln in Armenia. –0--
