11/02/2013 18:41
IBRD to give $45 million loan to Armenia
Armenian Minister of Finance Vatche Gabrielian and World Bank Country Manager for Armenia Jean-Michel Happi signed today a Loan Agreement on Lifeline Road Network Improvement, by which the International Bank for Reconstruction and Development will give a $45 million loan to Armenia, the press service of the Ministry of Finance reports.
The project aims to increase access to market and rural community services and to strengthen the capacity of the Ministry of Transport and Communication to manage the lifeline road network.
The loan is provided for 25 years, with a 10-year grace period.
It is planned to complete the project by June 30, 2017.