World Bank Activities to Remain Unaffected by Crisis

YEREVAN (Noyan Tapan)–The current internal political condition of Armenia will not affect the activities of the World Bank as long as the situation does not adversely affect the country’s economy–World Bank representative in Armenia Vahram Nersisiantz said at a Monday press conference. However–he added that the Bank’s activities depend on the stability of the given state.

Regarding loan program implementation problems the World Bank faced due to inefficient use and abuse of funds–Nersisiantz all matters have been settled. Nersisiantz explained that some criticism of activities stemmed from still-existing Soviet mentality. Asked about the inflated salaries of World Bank employees–Nersisiantz commented on the amount of work the Bank requires from its highly skilled employees. He said that the salaries do not even reach $1000 after tax and pension cuts.


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