YEREVAN. – Armenia will continue to receive preferential funding from the World Bank (WB), but less than before, Minister of Finance Davit Sargsyan told Armenian News-NEWS.am.

Sargsyan commented on the strategy for the WB-Armenia cooperation between 2014 and 2017.

“We will receive a part of the funding by way of the IDA [i.e., the International Development Association], but [a] small [part]. The bulk [of the funding] will be transferred by way of the IBRD [i.e., the International Bank for Reconstruction and Development],” the minister said.  

To note, this strategy proposes financial support of US$ 843 million to Armenia 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.