YEREVAN, November 8. /ARKA/. Board of Directors of the World Bank considered its strategy of cooperation with Armenia for 2014-2017 that is a framework document specifying WB’s support to the country, the press office of the World Bank reported.
The strategy anticipates financial assistance worth $843 million through the International Development Association, International Bank for Reconstruction and Development, and the International Financial Corporation over the next four years, according to the report.
The document is made based on Armenia’s development strategy for up to 2025. In terms of WB’s operations focus is placed on new jobs in the private sector.
The strategy focuses also on improvement of productivity in agriculture, which may lead to a higher economic growth, wellbeing and faster reduction in poverty both in villages and in urban areas.
According to WB regional director for the South Caucasus Henry Kerali, the strategy aims at creating new jobs in the private sector to consolidate the country’s development trends.
The strategy is to strengthen development through boosting competitiveness, which may be possible if key reforms are completed helping create new jobs and provide effective and fair social services, Kerali said. –0—
