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World Bank Extends $24 Million Loan to Armenia for IT Growth.

“The bank said the loan, repayable in 25 years, will be used for improving Armenians’ access to affordable computers and high-speed Internet connection and helping local businesses to authenticate electronic transactions.”


YEREVAN (RFE/RL)–The World Bank announced on Wednesday the release of a fresh $24 million loan to Armenia designed to foster enterprise innovation and the spread of information technology (IT) in the country.

“This innovative project seeks to unleash Information and Communication Technology as a new driver for growth and job creation in Armenia,” Asad Alam, the World Bank regional director for the South Caucasus, said in a statement. “Improved access to computers and high speed internet connectivity will help boost economic productivity, spur innovation, raise incomes of families and small businesses, and help create jobs.”

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