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ARMENIA AND WORLD BANK SIGN TWO LOAN AGREEMENTS WORTH $51.2 MILLION
YEREVAN, May 23. / ARKA /. Armenian Finance Minister Gagik Khachatryan
and head of the World Bank Yerevan Office, Jean-Michel Happi, have
signed today two loan agreements worth a total of $51.2 million,
which will be used to finance educational and social programs.
The Ministry of Finance said under the Second Social Protection
Administration Project signed with the International Development Agency
(IDA), Armenia will receive a credit of $ 21.2 million (13.9 million
SDR). This program aims to improve social protection service delivery
and strengthen analytical and monitoring and evaluation functions of
the agencies delivering.
Under the Education Improvement Project in Armenia the country will
receive a loan of $30 million, half of which will be provided by the
International Bank for Reconstruction and Development (IBRD), and
the second half, an equivalent of 9 8 million SDR, will be provided
by the IDA.
This project will support the improvement of school readiness for
children entering primary education and the physical conditions in
upper-secondary schools. It will also promote greater links between
higher education institutions and labor market in Armenia.
Since joining the World Bank in 1992 and IDA in 1993, the commitments
to Armenia total approximately US$ 1.839.06 billion. -0-
- See more at:
http://arka.am/en/news/society/armenia_and_world_bank_sign_two_loan_agreements_wo rth_51_2_million/#sthash.j32cbPsr.dpuf
YEREVAN, May 23. / ARKA /. Armenian Finance Minister Gagik Khachatryan
and head of the World Bank Yerevan Office, Jean-Michel Happi, have
signed today two loan agreements worth a total of $51.2 million,
which will be used to finance educational and social programs.
The Ministry of Finance said under the Second Social Protection
Administration Project signed with the International Development Agency
(IDA), Armenia will receive a credit of $ 21.2 million (13.9 million
SDR). This program aims to improve social protection service delivery
and strengthen analytical and monitoring and evaluation functions of
the agencies delivering.
Under the Education Improvement Project in Armenia the country will
receive a loan of $30 million, half of which will be provided by the
International Bank for Reconstruction and Development (IBRD), and
the second half, an equivalent of 9 8 million SDR, will be provided
by the IDA.
This project will support the improvement of school readiness for
children entering primary education and the physical conditions in
upper-secondary schools. It will also promote greater links between
higher education institutions and labor market in Armenia.
Since joining the World Bank in 1992 and IDA in 1993, the commitments
to Armenia total approximately US$ 1.839.06 billion. -0-
- See more at:
http://arka.am/en/news/society/armenia_and_world_bank_sign_two_loan_agreements_wo rth_51_2_million/#sthash.j32cbPsr.dpuf