World Bank approves EUR 17.9 million loan for additional funding of SILD project in Armenia

YEREVAN, MARCH 21, ARMENPRESS. The World Bank’s Board of Executive Directors approved the EUR 17.9 million loan for the Additional Financing of the Social Investment and Local Development (SILD) project in Armenia.

This project will further assist the Government of Armenia in improving the quality, access to, and use of community and intercommunity infrastructure and services, the World Bank said in a news release.

“The new project will directly benefit about 55 communities, of which 35 are in newly consolidated communities, mostly rural, enabling them to identify their own investment needs,” saidSylvie Bossoutrot, World Bank Country Manager for Armenia.“I am particularly pleased that this project will also seek to support income generating activities at the community level that could help open economic opportunities.”