Yerevan/Mediamax/. Within the framework of additional funding, World Bank (WB) will provide Armenia with $12mln for realization of social programs.

As the Head of WB Yerevan Office Aristomene Varoudakis stated at a news conference today, $5mln will be presented within the framework of additional funding for the governmental Social Protection Administration Project (SPAP), $7mln - within the framework of the second additional funding for the Armenian Social Investment Fund (ASIF III).

According to Aristomene Varoudakis, the additional means will be directed to reestablishing infrastructures in 35 Armenian communities, assisting implementation of pension reforms and other social projects.

Head of WB Yerevan Office stressed that implementation of these projects will allow creating 200 permanent workplaces a year in rural areas.

Let’s note that the loans are provided by the International Bank for Reconstruction and Development (WB Group) for the term of 25 years with a period of grace of 10 years.