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World Bank approves loans for social infrastructure in Armenia

Xinhua, March 17, 2015 Adjust font size:

The World Bank decided on Tuesday to grant a loan worth 30 million U.S. dollars for the development of social infrastructure in Armenia.

The loan will be spent on constructing new schools and kindergartens and developing social service in 150 most vulnerable communities across the country, the World Bank's Yerevan office said in a press release.

It is estimated that the loan will assist in creating 300 permanent and 1,100 temporary jobs in rural and suburban communities, said Laura Bailey, World Bank's Country Manager for Armenia. Endi