WASHINGTON, February 24, 2009 - The following project was approved today by the World Bank’s Board of Executive Directors:
IBRD Loan: US$50 million
TERMS: Maturity = 26.5 years; Grace = 5 years
Project Description: The Access to Finance for Small and Medium Enterprises Project for Armenia aims to improve Armenian small and medium enterprises’ access to medium-term finance in an increasingly unstable global financial environment, 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 major focus will be to support the continued development of commercial activities in the rural areas by improving market linkages, product quality, competitiveness and capacity of Armenian rural entrepreneurs and producers.
Media Contact
Michael Andrew Jones
(202) 473-2588
mjones2@worldbank.org
For project documents, please visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P115109
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