World Bank to Provide $200 Million to Armenia

YEREVAN — The World Bank will provide more than $200 million to Armenia as additional financial assistance for post crisis recovery and solution of low income families’ problems in 2012 and 2013, Jean Michel Happi, Head of the WB Yerevan Office told journalists.

He said that this money would be lent on preferential conditions via International Development Agency and International Bank for Reconstruction and Development. Happi said that these financial resources would be targeted for improvement of tax and customs services, management of economic growth, enhancement of tax administration , effectiveness and promotion of investments in agriculture.

These funds are also intended for rehabilitation of rural road, irrigation, infrastructures and drinking water facilities as well as for implementations of healthcare and education programs.

The World Bank has lent $1.318 billion to Armenian since is started cooperating with the country in 1992.

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