A pilot student credit program will be launched in Armenia in cooperation with the World Bank (WB), RA Minister of Education and Science Armen Ashotyan told journalists January 17.

Only a draft document is available now. “The document needs to be approved by the Government. “Discussions with NGOs and student organizations have been planned,” the minister said.

He reported that the program is intended for 50 students. The WB has allocated U.S. $1.5 million AMD. The following three principles will be applied: low interest rates, long repayment terms, and easy credit terms, Ashotyan said.

He said that the draft is to be submitted to the Government in the 2nd quarter of 2011.