WB allocates $24 million loan to Armenia
On November 30, the World Bank's Board of Executive Directors approved a $ 24 million loan for the E-Society and Innovation for Competitiveness (EIC) Project for Armenia.
"The project aims to assist the Government of Armenia in its on-going efforts to address constraints to competitive e-Society and enterprise innovation in Armenia by strengthening the underlying infrastructure and enabling environment," says a World Bank release.
Total financing of the Project is US$ 30 million, of which the Government of Armenia will finance US$ 6 million from its own resources. The IBRD Specific Investment Loan of $ 24 million has a maturity of 25 years, a grace period of 10 years included.
Since joining the World Bank in 1992 and IDA in 1993, Armenia has received $1 bln 389 mln 600 thousand.
