$75m World Bank loan for Armenian civil service reform

6 Jan 15
Armenia has received $75m from the World Bank to help it improve the efficiency and transparency of the civil service and improve the management of public infrastructure and environmental resources.

By Vivienne Russell | 6 January 2015

Armenia has received $75m from the World Bank to help it improve the efficiency and transparency of the civil service and improve the management of public infrastructure and environmental resources.

The disbursement, under the Second Development Policy Operation for Armenia, will support other reforms, such as helping the country estimate the revenue impacts of major tax expenditures. It will also help Armenia bolster its business sector by reducing regulation and improving access to credit.

‘The regional dynamics that are affecting Armenia reinforce how important it is for us to support economic growth and sustainability in the medium and long term,’ said Laura E Bailey, World Bank country manager for Armenia.

‘At the same time, as international partners work with the national authorities in dealing with the current short-term volatility, we continue to focus on important structural changes that will allow Armenia to deal with the realities in the world economy and be more competitive, which is what needs to happen to create jobs.’

Armenia will be expected the repay the World Bank loan over 25 years. 

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