WB managing director admires Armenia’s consistency in implementing WB programs
14.10.2008,
01:34
At her meeting with RA Prime Minister Tigran Sargsyan, WB Managing Director Ngozi Okonjo-Iweala, expressed her admiration over Armenia’s consistency in implementing WB programs.
YEREVAN, October 13. /ARKA/. At her meeting with RA Prime Minister Tigran Sargsyan, WB Managing Director Ngozi Okonjo-Iweala, expressed her admiration over Armenia’s consistency in implementing WB programs.
Diana Mnatsakanyan, Press Secretary of the RA Premier, reported that since 1992, when the World Bank (WB) established cooperation with Armenia, it has issued $1.1bln credits under 52 programs. Until 2006, Armenia received soft credits from the International Development Association (IDA) – credits were issued for 40 years, at an annual interest rate of 0.75%, with a grace period of ten years.
Since January 1, 2006, Armenia has been receiving credits in the terms of the International Bank for Reconstruction and Development (IBRD) form middle-income countries.
The WB Managing Director also pointed out Armenian partners’ valuable experience in implementing reforms.
The RA Premier laid emphasis on the existing problems and future partnership. He pointed out that, along with the new programs, Armenia also plans to meet new challenges, particularly a program of tax and customs reforms.
The WB Managing Director shared the opinion that reforms in the aforementioned fields are painful for all the concerned parties, which, however, does not mean they are not necessary for forming civil society based on democratic principles.
Ngozi Okonjo-Iweala stressed the necessity of tax and customs reforms for the reduction of corruption risks and social integration.
The RA Premier is on a working visit to Washington, USA, to take part in an annual forum of the World Bank (WB) and the International Monetary Fund (IMF).
The Armenian delegation includes Minister of Economy Nerses Yeritsyan, Minister of Finance Tigran Davtyan, RA Presidential Economic Advisor Vahram Nersisyants, Head of the RA Government Staff David Sargsyan, Chairman of the Central Bank of Armenia (CBA) Artur Javadyan, RA Deputy Foreign Minister Arman Kirakosyan, RA Ambassador to the USA Tatul Margaryan and other officials. –0--
Diana Mnatsakanyan, Press Secretary of the RA Premier, reported that since 1992, when the World Bank (WB) established cooperation with Armenia, it has issued $1.1bln credits under 52 programs. Until 2006, Armenia received soft credits from the International Development Association (IDA) – credits were issued for 40 years, at an annual interest rate of 0.75%, with a grace period of ten years.
Since January 1, 2006, Armenia has been receiving credits in the terms of the International Bank for Reconstruction and Development (IBRD) form middle-income countries.
The WB Managing Director also pointed out Armenian partners’ valuable experience in implementing reforms.
The RA Premier laid emphasis on the existing problems and future partnership. He pointed out that, along with the new programs, Armenia also plans to meet new challenges, particularly a program of tax and customs reforms.
The WB Managing Director shared the opinion that reforms in the aforementioned fields are painful for all the concerned parties, which, however, does not mean they are not necessary for forming civil society based on democratic principles.
Ngozi Okonjo-Iweala stressed the necessity of tax and customs reforms for the reduction of corruption risks and social integration.
The RA Premier is on a working visit to Washington, USA, to take part in an annual forum of the World Bank (WB) and the International Monetary Fund (IMF).
The Armenian delegation includes Minister of Economy Nerses Yeritsyan, Minister of Finance Tigran Davtyan, RA Presidential Economic Advisor Vahram Nersisyants, Head of the RA Government Staff David Sargsyan, Chairman of the Central Bank of Armenia (CBA) Artur Javadyan, RA Deputy Foreign Minister Arman Kirakosyan, RA Ambassador to the USA Tatul Margaryan and other officials. –0--
