Wednesday, December 11 2019 18:19

ArmInfo. On December 11, Armenian Deputy Prime Minister Mher Grigoryan received World Bank Regional Director Sebastian Molineus. The meeting was also attended  by the head of the WB Armenian office, Silvi Bosutkho.

According to the office of the Deputy Prime Minister, Grigoryan noted  that the meeting at the end of the year is a good occasion to sum up  the interim results of joint programs and decide on upcoming plans.   The Armenian Deputy Prime Minister presented the results of the  November meeting to the WB regional director, during which the  programs implemented in Armenia with the assistance of the Bank were  comprehensively discussed with the participation of all interested  structures.

The World Bank Regional Director for the South Caucasus, in turn,  thanked for the effective cooperation.  He noted the importance of  the approval by the World Bank Council of the budget assistance  program "Development Policy for the Governance of Armenia" (DPO).

During the meeting, the parties discussed programs in the fields of  energy, healthcare, and education.  Molineus noted the importance of  the steps initiated in the development of human capital. The Vice  Prime Minister, praising the experience and knowledge of the WB,  stated the need for cooperation in order to develop the capital  market in Armenia.

Recall that on November 21, the World Bank Board of Executive  Directors approved a new loan in the amount of EUR 45.8 million  (about USD 50 million - a loan with a constant spread with a  14.5-year grace period and with a total repayment period of 25.5  years) for the development assistance budget program aimed at the  management of Armenia "(DPO).

According to the WB Yerevan office, the program promotes the  management of the economic, fiscal and public sectors, improving  competition, and quality procedures aimed at trade and simplified  regulation, improving the efficiency of attracting income and public  investment, strengthening anti-corruption initiatives and the  implementation of the justice system and civil service. It is based  on the government program for 2019-23. and the bank's program for  2019 - 23 years. in partnership with a country that emphasizes  governance as an interactive framework. It is based on areas with  high strategic importance, influence and stability of reforms, where  they can contribute to the structural elements of deeper changes.   Since joining the World Bank in 1992, the total liabilities in  relation to Armenia amounted to about $ 2,429,734 million.