YEREVAN. – Within two months, the World Bank will provide Armenia with 550 million drams for agricultural development. Deputy Minister of Economy Arman Khojoyan said this during a meeting with journalists on Wednesday.

He noted that 30 processing enterprises will be the beneficiaries of this assistance, and the respective funds will be used to modernize their equipment and increase product competitiveness. "Within the framework of the same program, 190 units of agricultural machinery will be provided to 39 farms," Khojoyan also noted.

He added that Armenia will receive relevant assistance from some other international partners; in particular, $460,000 from the European Union, $550,000 from the International Agricultural Development Fund (IFAD), and $150,000 from the United States Agency for International Development (USAID).