ArmInfo.The World Bank (WB) will issue a $26.5mln loan to Armenia. The loan agreements were signed on March 15 and 18.
Ashot Muradyan, Vice-Chairman of the RA State Revenue Committee, said that the loan will be directed to the Forth Public Sector Modernization Project (PSMP IV) for Armenia.
By ratifying the documents Armenia will assume further commitments.
The World Bank will provide a EUR 26.5 million ($29.9 million equivalent) IBRD loan of variable-spread, with a 14.5-year grace period and a total repayment term of 25 years. The Government contribution is EUR 5.3 million ($6 million equivalent). Since joining the World Bank in 1992, and IDA in 1993, commitments to Armenia have totaled approximately $2,477,870 million.
