Armenia and the International Bank for Reconstruction and Development (a member of the World Bank Group) signed Thursday a $1.8 million grant agreement as part of the Agricultural Policy Monitoring and Evaluation Program.
From the Armenian side the agreement was signed by Vardan Aramyan, finance minister, and from the World Bank Country Manager in Armenia.
The grant will be provided by Japan, which is a donor in the Policy and Human Resources Development Fund. Expressing satisfaction with the cooperation with the World Bank’s Armenian Office, Arramyan said that these financial resources will be spent mostly on development of the country’s agriculture sector and on the agriculture ministry’s needs.
Bailey, on he side, stressed the importance of this grant agreement and said it will contribute to solution of problems in the agriculture sector.