WB APPROVED NEXT CREDIT OF $40 MILLION TO ARMENIA

The Council of Directors of the World Bank has approved the giving of the SAC-5 credit of $40 million to Armenia for implementing structural reforms. As reported by the WB representation in Yerevan, the credit is assigned to contribute to the implementation of the governmental poverty reduction program. “The credit reflects the WB view that the present reform strategy of the Armenian government was successful on the whole – in increasing the growth rate, export volume and reducing the poverty indicator,” – WB Yerevan office director Roger Robinson noted.