17/03/2010 18:01
WB to provide Armenia with $9 million loan
The World Bank has approved a $9 million loan to Armenia to finance the second project of modernization of social sector.
A spokesperson for WB said that the loan’s objective is to contribute to Armenian government in developing and improving the sphere of social services and management. Besides, it aims at developing the system of compensation package, providing its movement towards system of personal working contributions, and improving the system of access to available at government information.
“Bank’s key objective and priority issue is the one of strengthening of management. When efforts are making to develop platform of management and fight against corruption, some important challenges still remain,” said WB Country Director for South Caucasus Asad Alam.