A $13.48mln loan and $500,000 grant will be allocated to Armenia under the agreement to facilitate poverty reduction in the country’s regions, the press service of the RA Ministry of Finance reported.

The first component of the program envisages creation of Fruit Armenia OJSC and organization of fruit and nuts production in a sustainable manner. Investments will be made in Tavush, Vayots Dzor and Aragatsotn regions.

The second component – Rural Infrastructure – envisages investments in water supply, natural gas supply and rural roads rehabilitation in seven regions of Armenia (Tavush, Syunik, Vayots Dzor, Gegharkunik, Armavir, Lori and Shirak.)

The program implementation is expected to be launched in 2011 and completed in 2016.