Announcement

Collapse
No announcement yet.

World Bank Awards Two Projects In Armenia

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

  • World Bank Awards Two Projects In Armenia

    WORLD BANK AWARDS TWO PROJECTS IN ARMENIA

    PanARMENIAN.Net -
    April 8, 2010 - 16:46 AMT 11:46 GMT

    The Lifeline Roads Improvement project (LRIP) in Armenia and Armenia
    Rural Enterprise and Small Scale Commercial Agriculture Development
    Project were named among the 12 winners in the World Bank's third
    annual "Improving the Lives of People in Europe and Central Asia"
    2010 competition, the press service of the World Bank Yerevan Office
    reported .

    According to the report, so far out of projected 250 km LRN 150 km
    have been rehabilitated under the Lifeline Roads Improvement project.

    It created 12,000 person-months of employment. Travel time was
    reduced by 40 percent. More importantly, the project enabled rural
    populations to travel to urban centers where markets and social
    services are available.

    Armenia Rural Enterprise and Small Scale Commercial Agriculture
    Development Project assisted 132 small and medium agribusinesses to
    access long-term agricultural credit and generated a total of US$ 10.3
    million investments in rural areas. As a result, 450 new permanent
    jobs were created in rural areas, new modern greenhouses and poultry
    operations were established.

    "Although many countries in the Europe and Central Asia region enjoyed
    very strong growth and higher living standards throughout the past
    decade, the global financial and economic crisis has hit this region
    the hardest," said Philippe Le Houe'rou, World Bank Vice President
    for Europe and Central Asia.

    According to him, the winners of the competition show how innovative
    projects can improve the daily lives of people in the region despite
    the harmful effects of the recent financial turmoil on country
    economies. "The winners demonstrate real results, including job growth,
    establishment of small businesses and improved enterprise access to
    financing, improved health care and health protection and rehabilitated
    water and irrigation systems, etc," said the WB representative.
Working...
X