World Bank provides $55 mln loan to Armenia

Armenian Minister of Finance Gagik Khachatryan and World Bank’s Regional Director for the South Caucasus Mercy Tembon signed a loan agreement today, under which the World Bank will provide Armenia with a loan of $55 mln with a 25 year maturity period, of which 14.5 mln will be soft loan.

The “Local Economy and Infrastructure Development Programme” loan agreement signed with the International Bank for Reconstruction and Development (IBRD) envisages improvement of infrastructure and institutional capacities in Ararat, Vayots Dzor and Lori provinces, thus boosting the development of tourism in the regions.

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