World Bank approves $873.5 mln partnership strategy with Armenia
YEREVAN. Nov 20 (Interfax) - World Bank's Board of Executive Directors has approved an $873.5 million partnership strategy for Armenia in 2014-2017, Henry Kerali, the World Bank's regional director for the South Caucasus, told reporters.
The strategy is organized around three pillars: supporting competitiveness and job creation, improving efficiency and equity in social services delivery and improving governance and anti-corruption measures in public services, the World Bank says on its website.
The International Bank for Reconstruction and Development will lend $599 million of the total, the International Development Association (IDA) - $84.5 million and International Finance Corporation (IFC) - $160 million-$190 million.
Kerali said the World Bank had provided Armenia with $915 million in financial aid in 2009-2013, a significant portion of it in 2009, amid the global financial crisis.
He said no signs of crisis were evident in Armenia today: per capita GDP rose to $3,700 last year, from $3,400 in 2008.
The World Bank has lent Armenia $1.75 billion since 1992. There are 14 active World Bank programs currently being implemented in Armenia totaling $445.4 million.