“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.”