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Armenia : WORLD BANK agrees to grant ARMENIA for development of trade

July 4, 2014

The World Bank declared that it will allocate Armenia$59.54 million for development of trade and quality infrastructure.

The Bank will provide fund at a floating rate for 25 years (10-year beneficial period). $9.54 million of the sum will be shifted to the Armenian government.

Jean Michel-Happi, the head of the WB office in Yerevan, commented that that trade was the main encouraging power to expand income.

The program Armenia is executing will develop physical, human and institutional assets, while exciting trade, standards of living, investment and modernization of quality infrastructure.

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Source: TendersInfo (India)

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