Negotiations on Distribution of World Bank Credits Underway

YEREVAN (Armenpress)–Negotiations on disbursement of World Bank Structural Adjustment Credits (SAC-3 and SAC-4) began in Yerevan between the Armenian government and a World Bank delegation.

The World Bank delegation is to stay in Armenia for a week and a half to see how the Armenian government is fulfilling the assumed obligations concerning the privatization of four energy distributing companies–put forward by the World Bank.

According to World Bank resident representative Owaise Saadat–practically all issues concerning the disbursement of $6 million–the last portion of the SAC-3 program–have been solved. As to the disbursement of a $45 million credit within the framework of SAC-4 program–it is conditional on the time-table of power grid privatization.

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