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WB TO GRANT $86.5 MILLION LOAN TO ARMENIA
PanARMENIAN.Net
25.02.2009 22:17 GMT+04:00
/PanARMENIAN.Net/ The World Bank Board of Executive Directors has
approved a $86.5 million loan to Armenia to alleviate impact of the
global economic crisis.
The loan maturity is 20 years with 10 years of grace period.
The loan targets implementation of 4 projects: social investments fund
($8 million), small agricultural and rural business ($2 million),
rural roads repair ($25 million) and Access to Finance for Small and
Medium Enterprises Project.
The Access to Finance for Small and Medium Enterprises Project
for Armenia totaling $50 million with a 26.5 year maturity and a 5
year grace aims to improve Armenian small and medium enterprises'
access to medium-term finance in an increasingly unstable global
financial environment, by improving the ability of farmers and rural
entrepreneurs to access markets and by stimulating market-oriented
private and public investments in rural areas. The major focus will
be to support the continued development of commercial activities
in the rural areas by improving market linkages, product quality,
competitiveness and capacity of Armenian rural entrepreneurs and
producers, the WB press office reports.
PanARMENIAN.Net
25.02.2009 22:17 GMT+04:00
/PanARMENIAN.Net/ The World Bank Board of Executive Directors has
approved a $86.5 million loan to Armenia to alleviate impact of the
global economic crisis.
The loan maturity is 20 years with 10 years of grace period.
The loan targets implementation of 4 projects: social investments fund
($8 million), small agricultural and rural business ($2 million),
rural roads repair ($25 million) and Access to Finance for Small and
Medium Enterprises Project.
The Access to Finance for Small and Medium Enterprises Project
for Armenia totaling $50 million with a 26.5 year maturity and a 5
year grace aims to improve Armenian small and medium enterprises'
access to medium-term finance in an increasingly unstable global
financial environment, by improving the ability of farmers and rural
entrepreneurs to access markets and by stimulating market-oriented
private and public investments in rural areas. The major focus will
be to support the continued development of commercial activities
in the rural areas by improving market linkages, product quality,
competitiveness and capacity of Armenian rural entrepreneurs and
producers, the WB press office reports.