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WB to allocate $20 million to Armenia

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  • WB to allocate $20 million to Armenia

    Pan Armenian News

    WB TO ALLOCATE $20 MILLION TO ARMENIA


    08.07.2005 02:53

    /PanARMENIAN.Net/ The Board of Director of the World Bank approved Thursday
    allocation of a $20 million loan to Armenia. The funds are destined for
    implementation of various programs targeted at the development of middle and
    small business in agriculture. In part, it is supposed to widen the
    peasants' access to the market and stimulate private and state investments
    to the agrarian sector. The loan is secured by the International Development
    Association, the branch of the World Bank. The term of repayment of the loan
    will make 40 years. At that a 10-year prolongation is provided, ITAR-TASS
    reports.
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