World Bank Extends $24 Million to Support Armenia Reforms

WASHINGTON–DC– More than 22 million dollars will be extended to the Armenian Water and Sewage Company to implement its Municipal Water and Wastewater Project. The allocation will come from a Development Credit Agreement between the Government of Armenia and the World Bank’s International Development Association–signed on June 14 by Armenia’s Ambassador to the US Dr. Arman Kirakossian–and World Bank’s Resident Representative in Armenia Roger Robinson.

Armenia’s water utility has undergone fundamental reforms for more than four years–and the World Bank credit is expected to advance greater reforms.

Also signed was a Development Credit Agreement–which will allocate a supplemental $1.75 million to Armenia’s ongoing Agricultural Reforms Support Program.

During the signing ceremony–Robinson praised the Armenian government for its cooperation in implementing the World Bank programs.

Ambassador Kirakossian said that by way of its expertise and financing since the reestablishment of independence in Armenia–the World Bank has helped the Government in its effort to alleviate poverty and promote economic growth.

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