IDA Credit: US$2 million
TERMS: Maturity = 20 years; Grace = 10 years
Project Description: The Additional Financing for the Rural Enterprise and Small-Scale Commercial Agriculture Development Project for Armenia is consistent with the development objectives of the Rural Enterprise and Small-Scale Commercial Agriculture Development Project and aims to support the development of Armenia's small and medium scale rural businesses by improving the ability of farmers and rural entrepreneurs to access markets and by stimulating market-oriented private and public investments in rural areas. The additional financing will enhance the project's impact and development effectiveness by increasing the total number of communities benefiting from project activities under the community-focused economic development (CED) component. It will generate additional employment, improve incomes, and access to services for a wider segment of Armenia's rural population than under the original project.