Armenia: First Development Policy Operation
WASHINGTON, July 2, 2009 - The World Bank’s Board of Executive Directors today approved the following project:
Armenia: First Development Policy Operation
IDA Credit: US$60 million equivalent
Terms: Maturity = 20 years; Grace Period = 10 years
Project ID: P115626
Project Description: In the context of the global economic crisis, the proposed series of three annual Operations supports Armenia’s two strategic objectives of (i) addressing vulnerability to the current shocks by protecting the poor and supporting greater human capital development; and (ii) improving competitiveness by removing constraints to better governance and a more favorable investment climate—a key requirement for post-crisis recovery and growth over the medium term.
Media Contact
Michael Jones
(202) 473-2588
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