YEREVAN, July 2. /ARKA/. Prompted by the worsening socio-economic situation caused by the coronavirus pandemic and Nagorno-Karabakh post-war developments, as well as the slow economic recovery, on April 30, 2021, Armenia's Ministry of Finance officially applied to the International Development Agency (part of the World Bank Group) with a request to extend the decision on cancelling  the additional 1.7% interest rate on loans for another year.

The decision on the application of an additional interest rate (1.7% per annum) on a number of loans provided to Armenia by the International Development Agency was canceled for one year, and was  not applied during the fiscal year (from July  1 2020 to  June 30, 2021).

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In 2020, Armenia experienced one of the region’s sharpest GDP contractions—7.6 percent—as a severe COVID-19 outbreak and a military conflict with Azerbaijan late in the year impacted performance, according to World Bank’s latest ‘Europe and Central Asia Economic Update, Spring 2021

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Armenia’s health system response to COVID-19 and potential future pandemics, including hospitals’ capacity for case management and intensive care, will benefit from $7.4 million in Additional Financing for the Disease Prevention and Control Project, approved today by the World Bank’s Board of Executive Directors, World Bank reported today

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Armenian Deputy Prime Minister Tigran Avinyan received today a World Bank delegation led by Sylvie Bossoutrot, the Country Manager of the World Bank for Armenia , and the Local Economy and Infrastructure Development program’s team. Avinyan spoke about the priorities of Armenia’s economic development

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Armenian Deputy Prime Minister Tigran Avinyan received today a World Bank delegation led by World Bank Regional Director for the South Caucasus Sebastian Molineus, Avinyan’s press office reported

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Armenian Economy Minister Tigran Khachatryan met with representatives of the World Bank’s Trade Promotion and Quality Infrastructure program on Tuesday and discussed with them the criteria and studies arranged yet with the previous mission

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Armenian Deputy Prime Minister Mher Grigoryan received today a World Bank delegation, led by the current WB Regional Director for the South Caucasus Mercy Tembon, who introduced her replacement Sebastian Molineus. Sylvie Bossoutrot, World Bank Country Manager for Armenia was also in attendance

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The World Bank is preparing the Country’s Partnership Framework strategic document that defines the cooperation priorities for the next four years with Armenia

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Armenian Prime Minister Nikol Pashinyan received yesterday a delegation headed by Deborah Wetzel, Senior Director, Governance Global Practice, at the World Bank, the press office of the prime minister reports

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David Tonoyan, Armenian emergency minister, received Tuesday representatives of the World Bank’s technical assistance mission headed by Disaster Risk Management Specialist Tafadzwa Dube, the press office of the ministry reports

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