Armenia Fourth Development Policy Financing (WB-P160100)

Countries
  • Armenia
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 8, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Republic of Armenia
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Jul 24, 2017

Disclosed by Bank Jun 20, 2016


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Project Description
According to bank documents, this Development Policy Financing in Armenia will support the government’s efforts to promote fiscal, social, and environmental sustainability and to strengthen competitiveness. This operation is the last in a series of four operations. The project/program is designed around two pillars. The first pillar includes measures to increase the fiscal space, improve the financial sustainability of key sectors, enhance the efficiency of social protection programs, and improve environmental safeguards in the mining industry, which accounts for over half of Armenia’s exports. The second pillar includes actions designed to strengthen the business environment, improve trade facilitation and connectivity and the civil service, and improve access to credit.
Investment Description
  • World Bank (WB)
Contact Information
World Bank Contact: Mona Prasad Title: Senior Country Economist Tel: (202) 458-8757 Fax: (202) 522-2753 Email: mprasad@worldbank.org Borrower Contact: David Harutyunyan Title: Chief of Government Staff Tel: (374-10) 595-277 Email: David.Harutyunyan@goa.am Prime-Minister’s office Government Building 1, Republic Square, Yerevan, Armenia, 0015 Tel: (374-10) 595-277 Fax: (374-10) 151-446 David.Harutyunyan@goa.am ACCOUNTABILITY MECHANISM OF WORLD BANK The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.