Yerevan/Mediamax/. World Bank (WB) will provide Armenia USD 24mln for competition for innovations and e-society program.

Mediamax was informed in the press service of WB Yerevan office that the program is meant to render assistance to the Armenian government in solving problems of limitations in innovations for competitive e-society and enterprises, as well as for consolidation of infrastructures and a favorable atmosphere in this sphere.

The program was elaborated especially in order to stimulate innovative solutions in IT sphere enterprises for corresponding response to current challenges of the given sector. It assists increase of opportunities for citizens, companies and state establishments for using available services of broadband internet, as well as for increasing availability of electronic services and computers for citizens.

The total cost of the program makes USD 30mln, USD 6mln of which will be allocated by the Armenian government.

World Bank credit is provided for the term of 25 years with the period of grade of 10 years.