Announcement

Collapse
No announcement yet.

Armenian Parliament Ratifies 5.2 SDR Credit Agreement

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Armenian Parliament Ratifies 5.2 SDR Credit Agreement

    ARMENIAN PARLIAMENT RATIFIES 5.2 SDR CREDIT AGREEMENT

    ARKA
    March 17, 2009

    YEREVAN, March 17. /ARKA/. The RA Parliament has ratified a credit
    agreement between Armenia and the International Development Association
    (IDA), World Bank (WB). The agreement provides for additional financing
    for the 3rd program of the Social Investments Fund.

    The agreement was signed on February 26, 2009. On behalf of Armenia
    the document was signed by RA Minister of Finance Tigran Davtyan. The
    document provides for additional funding under the Third Program of
    the Social Investment Fund of November 1, 2006.

    The total worth of the agreement is 5.2mln SDR. The credit agreement
    between Armenia and IDA will take effect the day the WB is notified
    of all the ratification procedures having been completed in Armenia.

    IDA issued interest free loans for 30-40 years, with a 10-year
    grace period.

    Since 1992, when the WB established cooperation with Armenia, it has
    issued $1.162bln to the country. Sixteen programs are currently being
    implemented, and $94mln have been provided for their completion.
Working...
X