Mon, 17 February
-0.9 C
Yerevan
USD: 396.51 RUB: 4.36 EUR: 414.95 GEL: 140.05 GBP: 498.65
spot_img

World’s regional director for South Caucasus, Henry Kerali arrives in Armenia

YEREVAN, November 18. / ARKA /. Henry Kerali, the World Bank’s Regional Director for the South Caucasus, has arrived in Armenia following the WB’s approval of a new Country Partnership Strategy for Armenia (CPS) for 2014-2017.

The CPS was approved by the World Bank Group’s Board of Executive Directors earlier this month. The four-year strategy is a framework document outlining the World Bank Group’s support to the country.

The strategy is anchored in the Armenia Development Strategy 2025 and places private sector-led job creation at the center of the World Bank Group’s response. It also stresses the need for improvement of labor productivity in the agricultural sector that supports the livelihood of over one million of the rural population, and would lead to higher economic growth, shared prosperity, and faster poverty reduction in both urban and rural areas.

The strategy proposes financial support of US$ 873 million over the next four years, with access to the International Development Association (IDA), International Bank for Reconstruction and Development (IBRD), and International Finance Corporation (IFC) funding.

In Yerevan Mr. Kerali and head of WB Yerevan Office, Jean Michel Happi, will convene a news conference on November 19.

Henry Kerali is the World Bank’s Regional Director for the South Caucasus, effective July 1, 2012, based in Georgia. Kerali has worked in different regions of the world including Latin America, Africa, East Asia, South Asia, and Europe and Central Asia (ECA), and in his last position he oversaw the Bank’s transport program in the ECA Region as a Sector Manager.

Prior to joining the Bank in 2003, Mr. Kerali was a Professor at the University of Birmingham, England, specializing in the development of transport infrastructure. He led the research of developed economic cost-benefit models for assessing the feasibility of infrastructure investments.

Mr. Kerali, a dual Ugandan and UK national, was educated in Uganda where he studied Civil Engineering. He holds an MSc and a PhD from the University of Birmingham in England. He has over 100 publications in various books, journals and Bank reports. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

‘Bad’ loan assistance program launched in Armenia: 1000 applications already submitted

A scheme designed by the Armenian government to support citizens with bad loans started  on February 1 with 1000 beneficiaries having already submitted online applications,  Deputy Minister of Labor and Social Affairs David Khachatryan said today.

Share of problem loans in Armenia has decreased to 1.2% – EFSD report

The quality of the loan portfolio of Armenian banks has improved due to a decrease in the share of problem debt from 2.4% to 1.2%, according to the regional economic review of the Eurasian Fund for Stabilization and Development (EFSD) “Winter 2024–2025.”

Euro jumps 1.96 points to AMD 414.95

The average market exchange rate of the U.S. dollar to the Armenian dram on February 14, 2025, totaled 396.51 drams, having risen by 0.09 points compared to February 13.

Viva Armenia Issues its First Bonds Worth $80 Million

Viva Armenia CJSC announces the issuance of nominal, coupon paying bonds. The company has issued dollar-denominated bonds with a total face value of $80 million. The underwriter for these bonds is Ameriabank.

LATEST NEWS

spot_imgspot_imgspot_img