President and prime minister of Armenia receive World Bank
delegation
27-01-2009 18:00:00 | Armenia | Economy
YEREVAN, JANUARY 27, NOYAN TAPAN. The programs to be
implemented in the next 4 years under Armenia's Partnership
Strategy with the World Bank were discussed at the January 27
meeting of Armenian President Serzh Sargsyan and the delegation
headed by Vice President of the World Bank Shigeo Katsu.
Expressing a high opinion about Armenia's cooperation with
the WB, S. Sargsyan thanked the WB regional director for
efficient jont work and wished success to the newly appointed
Regional Director Asad Alam.
According to the RA presidential press service, issues
related to the global financial and economic crisis, its impact
on Armenian economy, and ways of overcoming these challenges
were discussed at the meeting.
Armenian Prime Minister Tigran Sargsyan also met with the
delegation headed by Shigeo Katsu on the same day. NT was
informed by the RA Government Information and PR Department that
the during the meeting the sides discussed cooperation with the
WB, the bank's possible assistance to Armenia with the aim of
overcoming the consequences of the global financial and economic
crisis, as well as issues related to Armenia's cooperation and
current negotiations with other influential financial
organizations.
Considering the strategy of Armenia's anticrisis program as
quite definite, T. Sargsyan underlined that the main focus will
be on increasing expenditures on infrastructures, in particular,
by providing more credits to irrigation, energy, road
construction, and small and medium-sized enterprises and
implementing a number of envisaged reforms.
Both sides stated that the current situation presupposes
accelerated processes which will also have a preventive nature
and enable to avoid possible economic shocks in the future. In
this connection the Armenian prime minister said that Armenia is
conducting negotiations with other financial organizations: the
Asian Development Bank, the European Bank for Reconstruction and
Development, and the Black Sea Trade and Development Bank,
planning to increase the amount of sums expected from these
banks for SME crediting at the expense of funds expected from
the World Bank for this purpose and taking into account the fact
that unlike the programs implemented with the indicated
financial organizations, those financed by the WB have a broader
coverage in terms of sectors. In the words of T. Sargysan, it
will allow displaying a balanced approach to the financing of
measures envisaged in various sectors.