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ITAR-TASS, Russia
Nov 19 2004
WB to provide 20 million-dollar loan to Armenia to fight poverty
WASHINGTON, November 19 (Itar-Tass) - The World Bank has decided to
provide 20 million dollars in a loan to Armenia intended to back
Yerevan's efforts to eradicate poverty.
The World Bank press service has reported that it will be the first
loan in the frame of a three-year program of assistance to Armenia in
this field.
The project aims to accomplish four main tasks, the first one being
the enhancement of macroeconomic discipline and improvement of
administrative and corporate governance, including the struggle
against corruption.
The other directions are ensuring the ownership rights and the
creation of conditions for stiffer competition in the economy;
forestalling and alleviation of social and environmental risk
factors; and modernization of agricultural modernization.
The World Bank loan is to be released on soft terms through the
Bank's International Development Association. The government of the
Netherlands will provide 4.3 million euros to co-finance the project.
Nov 19 2004
WB to provide 20 million-dollar loan to Armenia to fight poverty
WASHINGTON, November 19 (Itar-Tass) - The World Bank has decided to
provide 20 million dollars in a loan to Armenia intended to back
Yerevan's efforts to eradicate poverty.
The World Bank press service has reported that it will be the first
loan in the frame of a three-year program of assistance to Armenia in
this field.
The project aims to accomplish four main tasks, the first one being
the enhancement of macroeconomic discipline and improvement of
administrative and corporate governance, including the struggle
against corruption.
The other directions are ensuring the ownership rights and the
creation of conditions for stiffer competition in the economy;
forestalling and alleviation of social and environmental risk
factors; and modernization of agricultural modernization.
The World Bank loan is to be released on soft terms through the
Bank's International Development Association. The government of the
Netherlands will provide 4.3 million euros to co-finance the project.