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Prime-Tass: World Bank Delays 20m-Dollar Credit To Armenia

Prime-TASS news agency
1 Nov 02

Moscow

The World Bank will not make the first 20m-dollar disbursement
of the Fifth Structural Adjustment Credit (SAC V) to Armenia
this year as earlier planned for “technical reasons”, Armenia’s
Finance and Economy Minister Vardan Khachatryan told reporters on
Friday 1 November . The receipt of the 40m-dollar SAC V credit,
split into two equal tranches, is factored in the country’s 2003
budget, Khachatryan said. He went on to say that a World Bank
delegation is now in Armenia to hold talks with the government
regarding the disbursement of a “floating” SAC IV tranche and the
first SAC V disbursement. The minister said the World Bank was
expected to make the final decision on the “floating” tranche
within two weeks.

Armenia received the first 14,377,000-dollar disbursement of
the SAC IV credit in June 2001. The second 15m-dollar tranche
was disbursed in January 2002.

Armenia joined the World Bank in 1992. Since then the World Bank
has provided 697.15m dollars to Armenia for 28 programmes.

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