The World Bank has approved a $11 million credit, the Third Additional Financing for the Social Investment Fund III Project for Armenia.

The Additional Financing will further assist the Government of Armenia in its efforts to improve the living standards of the poor and vulnerable groups by expanding labor-intensive infrastructure projects in response to critical needs of the local communities.

Total financing of the Additional Financing is US$ 14.6 million, of which the Government of Armenia will finance US$2.9 million and US$0.7 million will be provided by beneficiary communities.

The Project focuses on “infrastructure gaps” through renovation and rehabilitation of secondary and special schools, kindergartens, gymnasiums and playgrounds, primary health clinics, potable water pipelines and sanitation systems, community-cultural and social service centers, minor irrigation schemes throughout Armenia, World Bank’s website says.

“The proposed project will directly benefit 50 rural communities. While this creates much-needed jobs in the current environment, the success of the program will also depend on how well local communities are able to sustain these new investments,” said Asad Alam, World Bank Regional Director for the South Caucasus.

So far, under ASIF III, 233 community infrastructure micro-projects have been completed and another 27 are under implementation.