YEREVAN, APRIL 27, ARMENPRESS. President of Armenia Armen Sarkissian has signed the bill on ratifying the Additional Funding for Water Irrigation Improvement Project agreement between Armenia and the International Bank for Reconstruction and Development (IBRD) into law on April 27, the President’s Office told ARMENPRESS. 

Earlier on April 3, the committee on financial-credit and budgetary affairs of the Armenian parliament gave a positive conclusion to the 2 million dollar loan agreement between Armenia and the International Bank for Reconstruction and Development (IBRD).

The bill on ratifying the agreement on additional funding for improving irrigation systems was included in the plenary session agenda.

The agreement was signed on November 20, 2017.

On April 12 the parliament approved the 2 million dollar loan agreement for improvement of irrigation systems between Armenia and the International Bank for Reconstruction and Development (IBRD) on April 12.

62 lawmakers voted in favor of the agreement, while 31 voted against. The opposition Tsarukyan and Yelk factions voted against.

The agreement is an amendment to the 2013 loan agreement of improving irrigation systems which was ratified by the World Bank and Armenia. The program planned 30 million dollars in loan, an additional 7,5 million dollar co-financing for the improvement of the mechanical irrigation systems namely in Meghri, Kaghtsrashen and Baghramyan-Norakert.

But the new program will not be directed to the previous one, as it is a completely new project.

English –translator/editor: Stepan Kocharyan