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WB APPROVED IRRIGATION INFRASTRUCTURE EMERGENCY PROJECT FOR ARMENIA
RIA Oreanda
Economic News
August 3, 2009 Monday
Russia
Washington. OREANDA-NEWS . July 31, 2009. The World Banks Board of
Executive Directors approved the Irrigation Rehabilitation Emergency
Project (IREP) for Armenia in the amount of US30 million. The
project will be financed through a loan from the International Bank
of Reconstruction and Development (IBRD). The Bank prepared this
emergency operation very quickly to help support the Governments
economic stimulus program and offset the negative impact of the
global economic crisis, reported the press-centre of World Bank. The
Project supports two objectives: (i) improving water use efficiency
in two selected irrigation schemes in Armavir and Talin subregions;
and (ii) fostering immediate rural employment. These are to be
achieved by civil works to rehabilitate irrigation canals which will
reduce water losses, and strengthening the institutions managing
the irrigation infrastructure. The IREP strongly build upon previous
projects in this sector, through World Bank and other donor financed -
projects. Creating jobs and boosting incomes, particularly in rural
areas where most of the poor live, is critical in the current crisis
environment, said Mr. Asad Alam, World Bank Regional Director for
the South Caucasus. What is important about this Project is that
this is done in a way that will also help improve long-term growth
and productivity in agriculture. This Project will also strengthen
the sustainability of progress made in the irrigation sector, added
Mr. Giuseppe Fantozzi, Task Team Leader for the Project. It will
strengthen the institutions that are particularly relevant for the
ongoing reforms, especially through training Water User Associations
and piloting a Water Users Federation. The Project will provide funds
for the rehabilitation of almost 84 km of the main canals in Armavir
and Talin subregions, that will reduce losses up to 70 thousand cubic
meters of water and will help bring irrigation back to about 7,300
ha of land.
By the time the Project is completed, around 39,000 water users will
directly benefit from the rehabilitation works. The beneficiaries
are spread over 73 communities. The Project will contribute to the
creation of almost 9,000 person months of employment. While this
will be temporary in nature, it will have a significant impact on
mitigating the effects of the economic downturn on underemployed
farmers and return migrants in the regions where the construction
activities will take place. The IBRD Flexible Loan has 27 years of
maturity with 5 years grace period. Since joining the World Bank
in 1992 and IDA in 1993, commitments to Armenia total approximately
US1,277 million. Copyright (c) 1997-2008 "OREANDA-NEWS"
From: Emil Lazarian | Ararat NewsPress
RIA Oreanda
Economic News
August 3, 2009 Monday
Russia
Washington. OREANDA-NEWS . July 31, 2009. The World Banks Board of
Executive Directors approved the Irrigation Rehabilitation Emergency
Project (IREP) for Armenia in the amount of US30 million. The
project will be financed through a loan from the International Bank
of Reconstruction and Development (IBRD). The Bank prepared this
emergency operation very quickly to help support the Governments
economic stimulus program and offset the negative impact of the
global economic crisis, reported the press-centre of World Bank. The
Project supports two objectives: (i) improving water use efficiency
in two selected irrigation schemes in Armavir and Talin subregions;
and (ii) fostering immediate rural employment. These are to be
achieved by civil works to rehabilitate irrigation canals which will
reduce water losses, and strengthening the institutions managing
the irrigation infrastructure. The IREP strongly build upon previous
projects in this sector, through World Bank and other donor financed -
projects. Creating jobs and boosting incomes, particularly in rural
areas where most of the poor live, is critical in the current crisis
environment, said Mr. Asad Alam, World Bank Regional Director for
the South Caucasus. What is important about this Project is that
this is done in a way that will also help improve long-term growth
and productivity in agriculture. This Project will also strengthen
the sustainability of progress made in the irrigation sector, added
Mr. Giuseppe Fantozzi, Task Team Leader for the Project. It will
strengthen the institutions that are particularly relevant for the
ongoing reforms, especially through training Water User Associations
and piloting a Water Users Federation. The Project will provide funds
for the rehabilitation of almost 84 km of the main canals in Armavir
and Talin subregions, that will reduce losses up to 70 thousand cubic
meters of water and will help bring irrigation back to about 7,300
ha of land.
By the time the Project is completed, around 39,000 water users will
directly benefit from the rehabilitation works. The beneficiaries
are spread over 73 communities. The Project will contribute to the
creation of almost 9,000 person months of employment. While this
will be temporary in nature, it will have a significant impact on
mitigating the effects of the economic downturn on underemployed
farmers and return migrants in the regions where the construction
activities will take place. The IBRD Flexible Loan has 27 years of
maturity with 5 years grace period. Since joining the World Bank
in 1992 and IDA in 1993, commitments to Armenia total approximately
US1,277 million. Copyright (c) 1997-2008 "OREANDA-NEWS"
From: Emil Lazarian | Ararat NewsPress