WB TO ALLOCATE $20 MILLION TO ARMENIA

PanARMENIAN.Net - The Board of Director of the World Bank approved Thursday allocation of a $20 million loan to Armenia. The funds are destined for implementation of various programs targeted at the development of middle and small business in agriculture. In part, it is supposed to widen the peasants' access to the market and stimulate private and state investments to the agrarian sector. The loan is secured by the International Development Association, the branch of the World Bank. The term of repayment of the loan will make 40 years. At that a 10-year prolongation is provided, ITAR-TASS reports.