WB MISSION ARRIVING IN YEREVAN TODAY TO CONSIDER GIVING NEXT CREDIT

A mission of the World Bank is arriving in Yerevan today to consider giving next credit SAC-5. As reported earlier by Armenian minister of finance and economy Vardan Khachatrian, two WB delegations will arrive in Yerevan – one to study the giving of SAC-4 “floating” trench, and the other – of SAC-5 credit. The SAC-5 credit total amount is $40 million and it is divided into two trenches $20 million each. Reception of the credit first part was planned for December 2002. The funds will be spent on paying off budgetary debts accumulated during previous years.