During the April 15 extraordinary sitting, the Armenian parliament started discussion of a loan agreement for the E-Society and Innovation for Competitiveness (EIC) Project.

The loan agreement was signed by the Armenian government and International Bank for Reconstruction and Development on January (IBRD) 26.

Advisor to the Armenian Minister of Economy Vahe Danielyan said in the parliament that the World Bank will allocate $24mln for the EIC Project, while the Armenian government - $6mln.

According to Danielyan, the agreement envisages allocation of the loan funds for the development of information technologies, telecommunication and education.

The loan will be provided to Armenia for a ten-year term on attractive terms.