Yerevan /Mediamax/. World Bank (WB) still forecasts that economic decline in Armenia will make 9-11% following the results of the year.

Mediamax reports that the Head of WB Yerevan Office Aristomene Varoudakis said this in Yerevan today.

At that he noted that Armenian economy is stabilizing, and indices of the construction sphere particularly evidence that fact.

WB to provide Armenia $30mln for rehabilitation of irrigation infrastructure

World Bank (WB) will provide Armenia a loan at the sum of $30mln for rehabilitation of the irrigation infrastructure.

Mediamax reports that the Head of WB Yerevan Office Aristomene Varoudakis stated today that the financial means will be spent for rehabilitation of main channels in Armavir and Turin at the total length of 84km.

Realization of the Irrigation Rehabilitation Emergency Program provides for creating 9 thousand new workplaces. Its main goal is to reduce water losses, as well as assist farmers, which may become a stimulus for returning migrants to rural regions.

The loan has 27 years of maturity term with the grace period of 5 years.