World Bank Conditions Aid

YEREVAN (RFE)–Vahram Nersisiantz–a World Bank representative in Armenia–said Friday that the bank would not reconsider its loan programs for Armenia if the government refused to recognize Azerbaijan’s sovereignty over Nagorno-Karabakh.

Nersisiantz said the World Bank’s future aid to Armenia will be contingent only on "economic and not political criteria." He praised the Armenian government for its policies of economic reform–arguing that they have largely been a success–despite "some minor drawbacks."

In recent years–the World Bank has granted Yerevan more than $200 million in credits and low-interest loans. Most of the aid has been used to build the infrastructure.

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