YEREVAN. – The World Bank will allocate three major credits to Armenia. The agreement was signed on Wednesday by Finance Minister Gagik Khachatryan and country manager of WB office in Yerevan Jean-Michel Happi.

Armenia will be granted a loan of $ 50 million within the framework of  Trade Promotion and Quality Infrastructure program that is designed to ensure improved effectiveness of the government in delivering trade promotion and quality infrastructure services to firms.

Armenia and the World Bank signed a loan of $ 32.67 million within the Second Community Agricultural Resource Management and Competitiveness (CARMAC) Project. The objective is to productivity and sustainability of pasture and livestock systems. Twenty-three million out of the mentioned amount will be allocated by the International Bank for Reconstruction and Development (IBRD).

Under the loan agreement between Armenia and the International Bank for Reconstruction and Development the country receive a loan of $40 million to improve the reliability of the transmission network.