May 8, 2009 - 13:59 AMT
WB to fund road construction in Armenia
.World Fund intends to provide USD 36 million credit to RA Government for road construction on the territory of Armenia, RA Transportation Minister Guren Sargsyan said on Thursday.
Future funding will depend on the success of Rural Roads Construction Project 2009, USD 25 million funding recipient.
International Development Association credits are provided for 20 years, with 0,75% interest rate to be paid within the first 10 years.