Armenia will receive the first trench of the World Bank SAC-5 credit, which is about $20 million, in mid-February 2003. Armenian minister of finance and economy Vardan Khachatrian reported it at the parliamentary discussion of the bill of 2003 state budget. In his words, sitting of the committee of directors of WB is expected in the middle of next January. It will most likely resolve to allocate the next credit to Armenia. The first trench will be given in 2-3 weeks after holding the meeting. The Armenian government hopes to receive the second trench of SAC-5 credit (again some $20 million) before the third quarter of 2003.