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WB INCREASES ARMENIA'S FUNDING OPPORTUNITY BY 55 MLN USD
ARMENPRESS
August 18, 2011
YEREVAN
The World Bank has increased Armenia's funding opportunity by 55 mln
USD, Prime Minister Tigran Sargsyan stated at today's governmental
session, adding that Asad Alam, WB Regional Director for the South
Caucasus, informed this to the government by a letter.
According to Tigran Sargsyan, this fact is conditioned by the quality
of loan portfolio, as well as by high level of management. "Armenia's
performance index has been highly assessed, creating an opportunity for
addition of privileged means, the Prime Minster said, stressing that
the revealed flaws must not cast a shadow on cooperation level with the
bank, and just the other way, must increase the productivity even more.
According to the head of the government, a strategic decision has
been adopted, according to which Armenian Ministries must be included
in program implementation offices. Tigran Sargsyan said that it will
enable to increase efficiency of WB programs and Armenian management
system.
"We need time for full completion of integration. Having a portfolio
of about 305 million USD, we must be able to specify the timetable
of use of means. Ministries must complete the negotiations with the
WB till September 1 and present a distinct timetable to the Prime
Minister," Tigran Sargsyan said.
122 million USD will be under custody of RA government in 2012 July,
and the realization process of those means will start in the spheres
of irrigation system, road construction, healthcare, education,
agriculture, automatization of tax and customs systems.
ARMENPRESS
August 18, 2011
YEREVAN
The World Bank has increased Armenia's funding opportunity by 55 mln
USD, Prime Minister Tigran Sargsyan stated at today's governmental
session, adding that Asad Alam, WB Regional Director for the South
Caucasus, informed this to the government by a letter.
According to Tigran Sargsyan, this fact is conditioned by the quality
of loan portfolio, as well as by high level of management. "Armenia's
performance index has been highly assessed, creating an opportunity for
addition of privileged means, the Prime Minster said, stressing that
the revealed flaws must not cast a shadow on cooperation level with the
bank, and just the other way, must increase the productivity even more.
According to the head of the government, a strategic decision has
been adopted, according to which Armenian Ministries must be included
in program implementation offices. Tigran Sargsyan said that it will
enable to increase efficiency of WB programs and Armenian management
system.
"We need time for full completion of integration. Having a portfolio
of about 305 million USD, we must be able to specify the timetable
of use of means. Ministries must complete the negotiations with the
WB till September 1 and present a distinct timetable to the Prime
Minister," Tigran Sargsyan said.
122 million USD will be under custody of RA government in 2012 July,
and the realization process of those means will start in the spheres
of irrigation system, road construction, healthcare, education,
agriculture, automatization of tax and customs systems.