Yerevan /Mediamax/. World Bank (WB) will provide Armenia $525mln within four years.

Mediamax reports that, speaking late January 27 at a news conference in Yerevan. World Bank Vice-President Shigeo Katsu stated that the given sum will 2.5 times exceed the volume of means, provided to Armenia by WB in 2004-2008.

He also noted that the sum may be increased to $800mln due to the means, which will be presented by structures, entering WB, in particular, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).

Talking about the means, which WB plans to allocate for Armenia in the first place, Shigeo Katsu stated that in late February programs will be presented to consideration of WB Board of Directors, providing for allocation of $25mln to repair village roads, $8mln – for additional financing of the third program of Social Investments Fund, $2mln – for additional financing of the Program for rural enterprises development and $50mln – to the Program for small and medium enterprise crediting.