YEREVAN. – A total of $3.8 million will be allocated, from the World Bank (WB) loan program, for the construction of an information technology (IT) cluster in Vanadzor, the third largest city of Armenia.

Economy Minister Vahram Avanesyan stated the above-said at Thursday’s Cabinet meeting.

The center’s construction will take two years, twenty IT companies and developers’ team will be able to operate there, the center plans to provide two hundred jobs, and two research laboratories are expected to open at the center.

The area for the future center is already selected.

The techno center will assist existing and start-up IT companies.

Such a center already operates in Gyumri, the second largest city of Armenia.