YEREVAN, April 30. /Mediamax/. The World Bank announced today that it will seek the agreement of its Board of Executive Directors for continued support for Armenia’s program for Structural Adjustment through a US $50 million Fourth Structural Adjustment Credit (SAC IV).
The press-release, spread today by its Yerevan office, notes that given the Armenian Government’s commitment to complete privatization of the Power Distributive Networks, and in recognition of the progress over the last six months in several important reform areas, SAC IV will be submitted to the World Bank’s Board Executive Directors before the end of this month.
The two regular tranches of SAC IV are supposed to make about US$15 million each. There is also a larger tranche (equal to about US$20 million), which would be released once sale of shares in the power distribution companies is successfully concluded. –0–
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