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WORLD BANK SUPPORTS COMMUNITY INVESTMENTS THAT TARGET THE POOR IN ARMENIA
armradio.am
15.02.2012 12:28
The World Bank's Board of Executive Directors today approved a
US$11 million credit, the Third Additional Financing for the Social
Investment Fund III (ASIF III) Project for Armenia. The Additional
Financing will further assist the Government of Armenia in its efforts
to improve the living standards of the poor and vulnerable groups
by expanding labor-intensive infrastructure projects in response to
critical needs of the local communities.
The Project focuses on "infrastructure gaps" through renovation
and rehabilitation of secondary and special schools, kindergartens,
gymnasiums and playgrounds, primary health clinics, potable water
pipelines and sanitation systems, community-cultural and social
service centers, minor irrigation schemes throughout Armenia. In this
regard, the situation in Armenia's rural areas, especially in remote
and isolated communities, and the earthquake zone, is particularly
severe. The Project targets those populations most affected by the
economic crisis, and the Additional Financing will help to meet these
and other needs over the medium-term.
"The main strength of ASIF is in its approach to enable local
communities to identify their own investment needs," said Asad Alam,
World Bank Regional Director for the South Caucasus. "The proposed
project will directly benefit 50 rural communities. While this
creates much-needed jobs in the current environment, the success of
the program will also depend on how well local communities are able
to sustain these new investments."
The Additional Financing will support implementation of about 50
micro-projects aimed at infrastructure rehabilitation and improvement,
and will create short-term employment of up to 140,000 days of labor.
About 20 schools and kindergartens and 5 community centers will
benefit from improved furniture under the proposed project.
Total financing of the Additional Financing is US$ 14.6 million,
of which the Government of Armenia will finance US$2.9 million and
US$0.7 million will be provided by beneficiary communities. The IDA
credit in the amount of US11 million carries a maturity of 25 years
including a grace period of 5 years.
From: Baghdasarian
armradio.am
15.02.2012 12:28
The World Bank's Board of Executive Directors today approved a
US$11 million credit, the Third Additional Financing for the Social
Investment Fund III (ASIF III) Project for Armenia. The Additional
Financing will further assist the Government of Armenia in its efforts
to improve the living standards of the poor and vulnerable groups
by expanding labor-intensive infrastructure projects in response to
critical needs of the local communities.
The Project focuses on "infrastructure gaps" through renovation
and rehabilitation of secondary and special schools, kindergartens,
gymnasiums and playgrounds, primary health clinics, potable water
pipelines and sanitation systems, community-cultural and social
service centers, minor irrigation schemes throughout Armenia. In this
regard, the situation in Armenia's rural areas, especially in remote
and isolated communities, and the earthquake zone, is particularly
severe. The Project targets those populations most affected by the
economic crisis, and the Additional Financing will help to meet these
and other needs over the medium-term.
"The main strength of ASIF is in its approach to enable local
communities to identify their own investment needs," said Asad Alam,
World Bank Regional Director for the South Caucasus. "The proposed
project will directly benefit 50 rural communities. While this
creates much-needed jobs in the current environment, the success of
the program will also depend on how well local communities are able
to sustain these new investments."
The Additional Financing will support implementation of about 50
micro-projects aimed at infrastructure rehabilitation and improvement,
and will create short-term employment of up to 140,000 days of labor.
About 20 schools and kindergartens and 5 community centers will
benefit from improved furniture under the proposed project.
Total financing of the Additional Financing is US$ 14.6 million,
of which the Government of Armenia will finance US$2.9 million and
US$0.7 million will be provided by beneficiary communities. The IDA
credit in the amount of US11 million carries a maturity of 25 years
including a grace period of 5 years.
From: Baghdasarian