YEREVAN.- World Bank Country Director for the South Caucasus Asad Alam has sent a letter to the Armenian Prime Minister Tigran Sargsyan, saying that the possibility of funding Armenia in the coming years (2011-2014) has been increased by $55 million.

During the Thursday government’s session Sargsyan said it is explained by a quality of Armenia’s loan portfolio, as well as high level of management.

Prime Minister expressed gratitude to the WB office in Armenia and personally Asad Alam and instructed the ministers to draw up a timetable with a view to spending sources and match it with the WB representatives. According to the Armenian PM, the schedule should be drafted so that it will be possible to spend funds from next May.

World Bank’s loan portfolio provided for Armenia for 2011-2014 will make about $305 million, which will be used to finance programs in the areas of water supply, irrigation, roads, health, education, agriculture, computerization of tax, customs and financial administration.