Tuesday, January 10 2012 19:09
World Bank allocated 7 mln USD for construction in Armenia in Nov 2011
ArmInfo. From the loan funds of the World Bank, 2.7 bln AMD (7 mln USD) were spent on the capital construction sphere in Armenia in November 2011. This constitutes 67.1% of the whole international provision of crediting (about 10.4 mln USD) to the construction sector of Armenia in November 2011. In the meantime, the WB's investments in the construction sector of Armenia dropped by 59.5% in Nov 2011 as compared to Nov 2010.
According to the National Statistical Service of Armenia, in November 2011 the total volume of capital investments in construction in Armenia made up 59.1 bln AMD ($154.3 mln), which is by 28.8% more than in October 2011 and by 13.3% less than in November 2010. In the total volume of capital construction, the share of construction and assembly works in November made up 54.5 bln AMD ($142.4 mln).
In Nov 2011 the state budget invested 10.8 bln AMD ($28.3 mln) in capital construction, or 18.3% of the total funds spent on capital construction; the organizations invested 25.2 bln AMD ($66 mln, 33.6% annual decline), or 42.6%; the population of Armenia spent 11.6 bln AMD ($30.4 mln, 15.1% annual decline), or 19.7%.
The Asian Development Bank's loan allocated for construction in Armenia in Nov 2011 was 697.6 mln AMD ($1.8 mln); German Development Bank provided a 225.4 mln AMD loan ($0.6 mln); and the European Bank for Reconstruction and Development - 306.7 mln AMD ($0.8 mln).