Yerevan /Mediamax/. Armenian Prime Minister Tigran Sargsian expressed hope today that “successful cooperation between the country and the World Bank (WB) and the agreements, reached last year at the meeting with the bank’s leadership in Washington, will legitimate expectations of our people on further productive cooperation”.

As Mediamax was informed in the press service of the government today, Tigran Sargsian said this today during his meeting with the delegation, headed by WB Vice-President Shigeo Katsu.

At the meeting they discussed the opportunities for WB assistance to Armenia to overcome the consequences of global financial-economic crisis. It was noted that, as opposed to many countries, where huge means were required to eliminate the consequences of the crisis, Armenia has managed to overcome its first wave without shocks. 

Armenian Prime Minister described Armenia’s crisis prevention program as “very accurate and clear”. Tigran Sargsian stressed that the focuses will mainly be on increasing infrastructural expenses, particularly in the spheres of irrigation, energy, road construction, means for small and medium enterprise crediting will be increased.

The sides stressed that the present situation requires speeding up decisions, which will play a prophylactic role to avoid shocks in the country’s economy later on.

Tigran Sargsian informed WB representatives that Armenia is in process of successful negotiations with Asian Development Bank, European Bank for Reconstruction and Development, Black Sea Trade and Development Bank on increasing the volumes of expected means for crediting small and medium enterprise.