Friday, 6 March 2009
RA Prime Minister Tigran Sargsyan received World Bank Regional Director for South Caucasus Asad Alam. In attendance was Aristomene Varudakis, the head of the World Bank Armenia Office.
The parties have discussed a package of World Bank-supported programs due to be implemented in Armenia during the next 4 years ahead.
Pleased with the current status of World Bank-Armenia cooperation, the head of the Armenian government conveyed our country’s keen interest in continuing collaborating in all the projected areas, inclusive of public governance, agriculture, irrigation system reform etc. In the meantime, according to the Prime Minister, the Government will have to give up some risky projects due to the global financial and economic crisis. Tigran Sargsyan noted that the social and welfare programs will be the highlights of this package.
In turn, Asad Alam prioritized the effective use of the proceeds of the World Bank-approved $525 million loan and the keeping by a clear-cut strategy in each of specified sectors in an effort to attract additional investments in future. He stressed that based on the findings of the progress report due to be submitted within two years of the start-up, the parties may come together to discuss the possibility of having extra funding from the Bank.
Asad Alam informed that Armenia’s Poverty Reduction Support Credit program won award at the World Bank’s “Improving Lives of People In Europe and Central Asia - 2009” contest and handed in to Tigran Sargsyan a prize for significant personal contribution to this program.
