YEREVAN, 27 May. /ARKA/. Armenia and the International Bank for Reconstruction and Development (IBRD – a division of the World Bank) signed an agreement on 24 May on financing the second operation of the Green, Sustainable and Inclusive Development Policy”, the press service of the Ministry of Finance reported.
The document was signed by Armenian Finance Minister Vahe Hovhannisyan and Carolyn Geghinat, head of the WB Armenian office.
The agreement envisages a loan of 92.3 million euros and a grant of $16 million from the Global Instrument of Preferential Financing Facility.
The programme includes the following areas: mitigating climate change and promoting adaptation, improving the legal and regulatory framework for environmental management, strengthening equality and promoting human capital development, improving the effectiveness of the anti-corruption system and the justice sector.
The programme also contributes to addressing the immediate needs of over 100,000 people forcibly displaced from Nagorno-Karabakh. -0-
