World Bank to Help Armenia Cope with Global Crisis


“We are working very closely with the government so as to design appropriate programs to counter the impact of the financial crisis on Armenia and are at the same time thinking about how to make the economy more resilient,” he said, adding that negotiations between them are still going on.

Prime Minister Tigran Sargisian has said that his government expects the World Bank to provide it with a total of $800 million in low-interest loans in the next three or four years.

Varoudakis indicated that the government is well placed to get a package aid of this scale. He said the World Bank’s board of directors could approve it next March.

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