Tweet
WB APPROVES $30 MILLION IRRIGATION REHABILITATION PROJECT IN ARMENIA
/PanARMENIAN.Net/
29.07.2009 15:23 GMT+04:00
/PanARMENIAN.Net/ The World Bank's Board of Executive Directors today
approved the Irrigation Rehabilitation Emergency Project (IREP) for
Armenia in the amount of US$30 million, Aristomene Varudakis, head
of the WB-Armenia office, told journalists today. The project will be
financed through a loan from the International Bank of Reconstruction
and Development (IBRD).
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 US$1,277 million.
The Project supports two objectives: improving water use efficiency
in two selected irrigation schemes in Armavir and Talin regions;
and fostering 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.
The Project will provide funds for the rehabilitation of almost
84 km of the main canals in Armavir and Talin regions, that will
reduce losses by 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 considerable 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.
/PanARMENIAN.Net/
29.07.2009 15:23 GMT+04:00
/PanARMENIAN.Net/ The World Bank's Board of Executive Directors today
approved the Irrigation Rehabilitation Emergency Project (IREP) for
Armenia in the amount of US$30 million, Aristomene Varudakis, head
of the WB-Armenia office, told journalists today. The project will be
financed through a loan from the International Bank of Reconstruction
and Development (IBRD).
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 US$1,277 million.
The Project supports two objectives: improving water use efficiency
in two selected irrigation schemes in Armavir and Talin regions;
and fostering 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.
The Project will provide funds for the rehabilitation of almost
84 km of the main canals in Armavir and Talin regions, that will
reduce losses by 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 considerable 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.