IBRD Loan: US$7 million equivalent
Terms: Maturity = 25 years; Grace Period = 10 years
Project ID: P118158
Project Description: The Additional Financing will assist the Government of Armenia in its efforts to improve the living standards of the poor and vulnerable groups by expanding labor-intensive infrastructure projects. The Project will focus on “infrastructure gaps”, or schools, kindergartens, potable water pipelines, community centers, and primary health clinics or ambulatories in need of repair or reconstruction throughout Armenia. The situation in Armenia’s rural areas, especially in remote and isolated communities, and the earthquake zone, is particularly severe. The Project targets those populations most affected by the economic crisis, and the Additional Financing will help to meet these and other needs over the medium-term as part of the Government’s anti-crisis measures.