WORLD BANK PROVIDES 28 MILLION DOLLAR CREDIT FOR POVERTY
REDUCTION IN ARMENIA
10-03-2007 14:00:00 | Armenia | Social
YEREVAN, MARCH 10, NOYAN TAPAN. The World Bank provided a
28 mln dollar credit for poverty reduction in Armenia. The
agreement was signed on March 9 by the RA Minister of Finance
and Economy Vardan Khachatrian and the WB Yerevan Office Acting
Director Naira Melkumian.
In the words of V. Khachatrian, the credit will assist with
implementation of the Poverty Reduction Strategy Paper (PRSP).
The credit will be used to maintain the country's economic
growth rates and to reduce poverty through budgetary allocations
and implementation of PRSP reforms.
The minister said that 196.5 mln out of 230 mln dollars
envisaged by the WB for 2005-2009 has already been allocated.
Negotiations on the rest of the sum are continuing. V.
Khachatrian expressed a hope that this sum will be provided by
late 2007.
According to WB information, despite the economic growth
registered in the country, the unemployment making up about one
third of labor force has started declining only recently.