ARMENIA TO BENEFIT FROM IFAD FUNDS

YEREVAN, DECEMBER 8, ARMENPRESS: Armenia is among 17 developing countries, which will benefit from nearly $320 million in UN loans and $6.4 million in grants next year. The International Fund for Agricultural Development (IFAD), meeting at its headquarters in Rome, approved the loans and grants for rural development projects in Algeria, Argentina, Armenia, Bangladesh, Brazil, Burkina Faso, Ecuador, Ethiopia, Guatemala, Indonesia, Jordan, Lesotho, Nepal, Sudan, Tanzania, Viet Nam and Zambia.
In the Near East and North Africa region, IFAD will provide $64 million in loans to help rural communities in the Tlemcen mountainous northern region of Algeria, rural mountain districts in Armenia and poor households in Kordofan, western Sudan, among other projects.