Armenia will receive a $32.67-million loan from the World Bank (WB), and for the second phase of the Community Agricultural Resource Management and Competitiveness Project.  

The new phase is slated to launch in Armenia next year.

Two WB organizations, the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD), will provide the respective loan.

The objective of this project is to raise the productivity of the pastures and animal farming, and to set up a new agricultural production in Armenia.