15.09.2000, MEDIAMAX, YEREVAN. The World Bank approved on September 14 a 11.40 million US dollars credit for a Judicial Reform Project in Armenia. In addition, the government of Armenia will contribute US$800.000 making the total cost US$12.2 million. World Bank representative Oweys Saadat declared this today at the press conference in Yerevan.
The credit will be disbursed with a maturity of 40 years including a 10-year grace period. The annual per cent will make up 0.75 % of the total cost.
The program envisages the following: strengthening the institutional capacity of the judicial system, public awareness and training, reforms in legal system, repairs of 20 courthouses, a court building construction in Gyumri. A considerable part of the credit will be spent on technical equipment of courthouses. The program also aims at the improvement of compulsory implementation of legal acts.
This is the first such program realized in Armenia by World Bank. The program will be realized by PR office. Each stage of the program will be controlled by working groups, with a judge in each.
Oweys Saadat also said that World Bank in cooperation with Armenian authorities works on creating a program of private sector development in Armenia, to give credits to private persons. WB hopes to realize all these programs in 2000.
Since 1992 commitments to Armenia total approximately 606.75 million US dollars for 22 operations.-0-
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