Prime Minister Meets With World Bank Official

YEREVAN (Armenpress)–Judy O’Connor–World Bank regional director for Georgia and Armenia–met with Armenia’s Prime Minister Andranik Margarian in Yerevan on Wednesday to discuss how the government was fulfilling its commitmen’s and obligations and also disbursement of SAC-4 second and third–the so-called "floating" tranches and allocation of SAC-5 credit. The two also spoke about the progress made by the programs currently being implemented in Armenia which aim to reduce the level of poverty in the country.

Judy O’Connor was quoted by the government’s press office as praising the government for making progress in some areas and stepping up the activity of the Armenian Development Agency.

She also spoke positively about the process of privatization of energy distributing networks and welcomed the decision to increase social spending in 2002 draft budget.

O’Connor said the World Bank would disburse the second–$15 million tranche of SAC-4 credit soon–but she said Armenia needs to have additional negotiations with the IMF for the "floating" tranche of $20 million to be disbursed. Margarian said this amount would not be included in 2002 draft budget–unless final clarification are made.

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