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WORLD BANK TO PROVIDE ARMENIA WITH $6.25 MLN TO FIGHT BIRD FLU
Interfax News Agency
Russia & CIS Business and Financial Newswire
June 5, 2006 Monday 1:20 PM MSK
The World Bank board of directors has approved providing Armenia
with a $6.25 million loan to implement a program to fight bird flu,
Roger Robinson, director of the World Bank's Yerevan office, said at
a Monday press conference.
The loan will be provided on standard International Development
Association terms for 40 years at an annual 0.75% with a grace period
on payment for the first ten years.
The program is aimed at minimizing the risks of poultry coming down
with the disease, Robinson said.
If the bird flu virus is discovered in Armenia, a fund will be set
up to compensate damages for $750,000. These resources can be used
by small farmers that do not have more than 200,000 chickens. They
will also need to contribute a minimum amount to the fund. Large farms
that raise poultry and eggs will have to provide for their own safety
measures and will not receive compensation, Robinson said.
The credit resources will also be targeted at upgrading three
laboratories in the country and some of the resources will be used
to provide information to the public.
Japan is also providing a grant of $804,000 to Armenia.
The World Bank has provided Armenia with loans totaling $927.25
million since 1993.
Interfax News Agency
Russia & CIS Business and Financial Newswire
June 5, 2006 Monday 1:20 PM MSK
The World Bank board of directors has approved providing Armenia
with a $6.25 million loan to implement a program to fight bird flu,
Roger Robinson, director of the World Bank's Yerevan office, said at
a Monday press conference.
The loan will be provided on standard International Development
Association terms for 40 years at an annual 0.75% with a grace period
on payment for the first ten years.
The program is aimed at minimizing the risks of poultry coming down
with the disease, Robinson said.
If the bird flu virus is discovered in Armenia, a fund will be set
up to compensate damages for $750,000. These resources can be used
by small farmers that do not have more than 200,000 chickens. They
will also need to contribute a minimum amount to the fund. Large farms
that raise poultry and eggs will have to provide for their own safety
measures and will not receive compensation, Robinson said.
The credit resources will also be targeted at upgrading three
laboratories in the country and some of the resources will be used
to provide information to the public.
Japan is also providing a grant of $804,000 to Armenia.
The World Bank has provided Armenia with loans totaling $927.25
million since 1993.