World Bank to allot USD 305 million to Armenia

The World Bank (WB) is increasing its distribution of credits for Armenia. In 2011-14 WB will issue credits to Armenia of USD 305 million. The WB finances projects in water supply and irrigation systems, constructing of motorways, education, medicine, agriculture and other sectors. At December 31, 2010 Armenia’s debt to the WB came to USD 1.265 billion.