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Prime Minister Of Armenia: Our Programmes To Primarily Aim At Soluti

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  • Prime Minister Of Armenia: Our Programmes To Primarily Aim At Soluti

    PRIME MINISTER OF ARMENIA: OUR PROGRAMMES TO PRIMARILY AIM AT SOLUTION OF SOCIAL PROBLEMS

    ArmInfo
    2009-03-05 12:57:00

    ArmInfo. Upon the results of negotiations with the World Bank and
    the International Monetary Fund, the strategic partner regulated
    the provisions of a mid- term programme of the Armenian government
    aimed at overcoming of the financial and economic crisis during 3-4
    years. The programme financing volumes have also been determined,
    Prime Minister of Armenia Tigran Sarkisyan said in an interview with
    the Public TV of Armenia commenting on March 3 situation with 20%
    fall of the Armenian dram.

    As he said, the IMF has already agreed to extend credit to Armenia at
    the rate of $540 mln. $240 mln of which will be granted immediately,
    and the rest amount - on a quarterly basis. The World Bank will also
    extend $525 mln credit to Armenia to be directed to the different
    economy sectors. The Russian prime minister also confirmed the
    intention of Russia to extend $500 mln credit to Armenia which will
    help Armenia to overcome the global economic crisis. 'I am not going
    to bring the examples of other partners the negotiations with which
    have been completed - the Asian Development Bank, EBRD, Black Sea
    Development Bank, which will also provide Armenia with funds',
    T. Sarkisyan said. Of course, these funds will help to take some
    steps to change the expenditures. The preference will be given to
    the social programmes, in particular, the programmes concerning
    the pensioners, social allowances and salary increase. The second
    direction is development of infrastructures, that will allow to
    assure the republic's life activity. The third direction is financial
    assistance to the enterprises having some temporary difficulties or
    which create new jobs. 'We shall render assistance by any means in
    order to mitigate the social, tension', T. Sarkisyan said.
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