YEREVAN, February 24. /ARKA/. The Armenian Finance Minister, Vache Gabrielyan, and the head of World Bank Yerevan Office, Jean –Michelle Happi, endorsed Friday an agreement ensuring IBRD’s lending to Armenia on the water supply program, the Finance Ministry’s press service reported to “ARKA”.

According to the sub-loan agreement the loan amount will be allocated to “Armenian Water and Sewerage” CJSC to improve water supply in a number of communities.

The program will be targeted, in particular, at restoration of water supply network in Ashtarak, Echmiatsin, Masis, and the nearest to them communities. The loan is granted for 25 years with a 10-year grace period on an annual interest rate of 6-month rate LIBOR USD + variable margin. The final implementation of the program is planed for June 30, 2015.

Categories: Banks @en, General news, News | Comments Off on WB and Armenian finance ministry sign $15mln- loan agreement on water supply program

Tags: ARMENIA WB FINANCE MINISTRY

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