Armenian foreign ministry said that Armenian ambassador to the USA Arman Kirakosian and a World Bank senior official Donna Dowset-Korroylon signed March 14 in Washington the agreement on the first installment in the amount of $20 million of World Bank $40 million Structural Adjustment Credit (SAC-5) loan. The first tranche will go to support the ongoing economic reformations and implementation of the government’s plan of poverty reduction.
After the signing ceremony the World Bank official praised the Armenian government for maintaining the microeconomic indices, saying that the World Bank board of directors meeting the day before assessed highly the pace of economic reforms undertaken by the government. Ambassador Kirakosian thanked the World Bank for long-term support to Armenia and continued cooperation.
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