The World Bank’s Board of Executive Directors today approved the E-Society and Innovation for Competitiveness (EIC) Project.

The US $24 million innovation project aims to support the Government of Armenia in its efforts to establish an inclusive ‘e-society’. It aims to address constraints to competitive e-Society and enterprise innovation in Armenia by strengthening the underlying infrastructure and enabling environment through: measures to increase access to affordable broadband services for citizens, businesses and public institutions (through development of Nationwide Broadband Backbone and Government Network); equipping citizens and businesses with a tool for authentication of electronic transactions (Digital Citizen Program); and increasing access to affordable computers as well as e-services for citizens (Computer for All Program).

The terms of the project are: maturity = 25 years; grace = 10 years.

Armenia has received a total of U.S. $1,389,600,000 since it joined the World Bank (WB) in 1992 and the WB International Development Association (IDA) in 1993.