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[Web Wrap]: World Bank Extends $24 Million Loan to Armenia for IT Growth.

December 3, 2010

“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.”

Via Asbarez.com

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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Credit: Asbarez.com

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