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States News Service
March 13, 2015 Friday
WORLD BANK SUPPORTS SOCIAL INVESTMENTS IN 150 COMMUNITIES ACROSS ARMENIA
WASHINGTON
The following information was released by the World Bank:
The World Bank Board of Executive Directors today approved a US$30
million loan for the Social Investment and Local Development (SILD)
Project in Armenia. This project will further assist the Government of
Armenia to improve the quality, use of and access to community
infrastructure for the poor and vulnerable groups.
Local populations throughout Armenia will benefit from renovated and
rehabilitated social infrastructure such as schools, kindergartens,
health and social service facilities, community centers, water supply,
waste management, as well as economic infrastructure such as
irrigation systems, agro-processing and storage facilities, markets,
etc. Priority needs will be identified through assessments of economic
development potential and prioritization by the communities.
"The new project will directly benefit about 150 communities, mostly
rural, and enable them to identify their own investment needs," said
Laura Bailey, World Bank Country Manager for Armenia. "I am
particularly happy that this project will create much-needed jobs,
thus contributing to income generation in participating communities.
We estimate that approximately 300 permanent and 1,100 temporary jobs
will be created, with more than US$8 million in wage income generated
in vulnerable communities."
SILD has grown out of one of the oldest WB-supported projects,
Armenian Social Investment Fund (ASIF), which has been addressing
territorial imbalances in the country for almost 20 years. ASIF has
proven to be an effective tool in responding to the needs of the poor
and promoting economic growth in remote and isolated villages. As in
the past, the success of the program will depend on how well local
communities would be able to sustain the new investments.
The project has three components. The first component supports
socio-economic development at the local level following the model of
ASIF and will implement micro-projects covering 120 communities. SILD
will target rehabilitation and development of public, social,
economic, and environmental community infrastructure and services. It
will also build institutional and financial capacity at the local
level for implementation of these activities.
The second component - inter-community social and economic development
initiatives - will finance socioeconomic initiatives with the
potential for longer-term development impacts by bringing together two
or more communities. This new collaborative development approach will
provide additional incentives for communities to explore development
synergies and opportunities in line with the concept of the
territorial development reform. Overall, SILD will fund the design,
selection and implementation of abound 30 inter-community
sub-projects.
The third component will support ASIF's transition to Armenian
Territorial Development Fund (ATDF) to evolve ASIF's work from small,
discrete projects to larger, sustainable development projects, in line
with the objectives of the Armenian Development Strategy 2012-2025 of
reducing socio-economic disparities and promoting harmonic regional
development. Key dimensions of the transition will include development
of new tools and approaches for appraisal, promotion and selection of
inter-community projects; organizational development; and staff
capacity building.
"These initiatives have both social and economic impact and can
catalyze future economic growth and human capital development for a
region or group of communities," said Erkin Mamadaliev, World Bank
Task Team Leader of the Project. "We are expecting that the project
will also strengthen inter-community dialogue across the country,
priority-setting and development planning and management. The project
will be specifically focused on vulnerable and lagging regions."
Total financing of the project is US$42.85 million, of which the
Government of Armenia will finance US$11 million and US$1.85 million
will be provided by beneficiary communities. The US$30 million is an
IBRD flexible loan with variable spread with a 14.5-year grace period
and repayment of 25 years.
Since joining the World Bank in 1992 and IDA in 1993, the total IDA
and IBRD commitments to Armenia amount to US$2,066.730 million.
Media Contacts
In Washington
Elena Karaban
Tel : (202) 473-9277
[email protected]
In Yerevan
Vigen Sargsyan
Tel : (374 10) 520 - 992
[email protected]
For Broadcast Requests
Mehreen Sheikh
Tel : (202) 458-7336
[email protected]
From: Emil Lazarian | Ararat NewsPress
March 13, 2015 Friday
WORLD BANK SUPPORTS SOCIAL INVESTMENTS IN 150 COMMUNITIES ACROSS ARMENIA
WASHINGTON
The following information was released by the World Bank:
The World Bank Board of Executive Directors today approved a US$30
million loan for the Social Investment and Local Development (SILD)
Project in Armenia. This project will further assist the Government of
Armenia to improve the quality, use of and access to community
infrastructure for the poor and vulnerable groups.
Local populations throughout Armenia will benefit from renovated and
rehabilitated social infrastructure such as schools, kindergartens,
health and social service facilities, community centers, water supply,
waste management, as well as economic infrastructure such as
irrigation systems, agro-processing and storage facilities, markets,
etc. Priority needs will be identified through assessments of economic
development potential and prioritization by the communities.
"The new project will directly benefit about 150 communities, mostly
rural, and enable them to identify their own investment needs," said
Laura Bailey, World Bank Country Manager for Armenia. "I am
particularly happy that this project will create much-needed jobs,
thus contributing to income generation in participating communities.
We estimate that approximately 300 permanent and 1,100 temporary jobs
will be created, with more than US$8 million in wage income generated
in vulnerable communities."
SILD has grown out of one of the oldest WB-supported projects,
Armenian Social Investment Fund (ASIF), which has been addressing
territorial imbalances in the country for almost 20 years. ASIF has
proven to be an effective tool in responding to the needs of the poor
and promoting economic growth in remote and isolated villages. As in
the past, the success of the program will depend on how well local
communities would be able to sustain the new investments.
The project has three components. The first component supports
socio-economic development at the local level following the model of
ASIF and will implement micro-projects covering 120 communities. SILD
will target rehabilitation and development of public, social,
economic, and environmental community infrastructure and services. It
will also build institutional and financial capacity at the local
level for implementation of these activities.
The second component - inter-community social and economic development
initiatives - will finance socioeconomic initiatives with the
potential for longer-term development impacts by bringing together two
or more communities. This new collaborative development approach will
provide additional incentives for communities to explore development
synergies and opportunities in line with the concept of the
territorial development reform. Overall, SILD will fund the design,
selection and implementation of abound 30 inter-community
sub-projects.
The third component will support ASIF's transition to Armenian
Territorial Development Fund (ATDF) to evolve ASIF's work from small,
discrete projects to larger, sustainable development projects, in line
with the objectives of the Armenian Development Strategy 2012-2025 of
reducing socio-economic disparities and promoting harmonic regional
development. Key dimensions of the transition will include development
of new tools and approaches for appraisal, promotion and selection of
inter-community projects; organizational development; and staff
capacity building.
"These initiatives have both social and economic impact and can
catalyze future economic growth and human capital development for a
region or group of communities," said Erkin Mamadaliev, World Bank
Task Team Leader of the Project. "We are expecting that the project
will also strengthen inter-community dialogue across the country,
priority-setting and development planning and management. The project
will be specifically focused on vulnerable and lagging regions."
Total financing of the project is US$42.85 million, of which the
Government of Armenia will finance US$11 million and US$1.85 million
will be provided by beneficiary communities. The US$30 million is an
IBRD flexible loan with variable spread with a 14.5-year grace period
and repayment of 25 years.
Since joining the World Bank in 1992 and IDA in 1993, the total IDA
and IBRD commitments to Armenia amount to US$2,066.730 million.
Media Contacts
In Washington
Elena Karaban
Tel : (202) 473-9277
[email protected]
In Yerevan
Vigen Sargsyan
Tel : (374 10) 520 - 992
[email protected]
For Broadcast Requests
Mehreen Sheikh
Tel : (202) 458-7336
[email protected]
From: Emil Lazarian | Ararat NewsPress