Thursday, April 28 2016 15:24
Alexandr Avanesov

WB: Situation in Karabakh has no direct impact on Armenia`s economy

WB: Situation in Karabakh has no direct impact on Armenia`s economy

ArmInfo.The World Bank has not assessed the impact of the escalation in Nagorno-Karabakh on the Armenian economy, Laura E. Bailey, World Bank Country Manager for Armenia, said at a news conference in Yerevan today. She said that the previous years' practice shows that in such cases the matter may concern common confidence that influences the direct foreign investments.

The WB will shortly monitor this issue, she said. However, the situation in Karabakh has no direct impact on the Armenian economy. Mrs. Bailey says that she feels sorry for what has happened because she perfectly realizes in what a hard condition the families and the communities are.

She also expressed her condolences to the deceased servicemen's relatives. In this light, Mrs. Bailey said that the WB is not going to stop its activities in Armenia. The World Bank implements no projects in Karabakh, but in near-border Tavush province it implements projects in such areas as water supply, healthcare and agriculture. None of these projects has been suspended, she stressed.


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