Armenia, World Bank sign $50 mln loan agreement

Armenian Minister of Finance Gagik Khachatryan and Head of the World Bank Office in Armenia Jean-Michel Happi signed today two credit and financing agreements aimed at implementation of social and educational programs.

Under the “Social protection administration II” program agreement Armenia will receive a $21.2 mln credit to be allocated to the improvement of the social protection services and strengthen the functions of their analysis, monitoring and assessment.

Under the “Education Improvement Project” Armenia will receive a $30 mln credit, including a $15 mln from the International Bank for Reconstruction and Development, and $15 mln from the International Development Association.

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