Yerevan, October 27 /Mediamax/. The World Bank (WB) approved the decision on allocating $25mln for Armenia within the framework of the third project of the Armenian Fund for Social Investments.

Mediamax reports that Head of the WB Yerevan Office Roger Robinson stated today that the credit provides for the reestablishment of infrastructures in the poor regions of Armenia. The project is also called to strengthen the effectiveness of the functioning of municipal administrations in the spheres of financial management, budgeting, book-keeping and etc.

The AFSI was setup in 1995. Its first project, with the whole cost of $20mln was being realized in the course of 4 years. The volume of the second project, the realization of which started in 2000, makes $29mln.