ARMENIA TO GET NEXT TRENCH OF WB SAC-4 CREDIT BEFORE END OF YEAR

Before the end of the year Armenia will get the floating trench of $20 million of the World Bank SAC-4 credit. Armenian minister of finance and economy Vardan Khachatrian stated it emphasizing that Armenia had met all WB conditions on privatization of its energy distribution networks obligatory for being given the trench. In the minister’s words, the trench funds are not included in the 2003 state budget bill: they will be allocated for paying off the past budgetary debts.