YEREVAN, JUNE 13, ARMENPRESS: An official of the Armenian justice ministry told Armenpress the ministry and World Bank have reached a principled agreement on implementation of a second credit program for judiciary reform.
Arthur Tunian, head of a ministry office for program implementation, said the ministry and the World Bank are engaged in talks to specify its components. Justice minister David Harutunian had earlier said the first credit program was assessed highly by World Bank.
In 2000 September the World Bank approved the first US$11.40 million equivalent (SDR8.6 million) for a Judicial Reform Project in Armenia to help its authorities in the development of an independent, accessible, and efficient judiciary, essential to governance, rule of law, and investment climate. The total cost of the project was US$12.2 million including US$800,000 from the Armenian Government. The credit was disbursed on standard IDA terms with a maturity of 40 years including a 5-year grace period.
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