- Implementation Support Agency (ISA): World Bank
- Total project financing: $116 million
- Funding from GCFF: $16 million
- GCFF Financing Approval Date: 02/19/2024
- Status: Pending effectiveness
About the project
The proposed development policy operation (DPO) in the amount of US$116 million equivalent is the second in a programmatic series of two operations that supports Armenia on its path to green, resilient, and inclusive development. In August 2021, the authorities adopted the Program of the Government of the Republic of Armenia (2021-26) to address key structural challenges and enable the country to achieve inclusive and sustainable development. In support of the government program, this programmatic series aims at fostering climate change mitigation and adaptation, improving the regulatory framework for environmental management, enhancing equity and promoting human capital development, and strengthening the anti-corruption framework and justice sector efficiency. The programmatic series will help Armenia better navigate an increasingly uncertain environment, marked by the recent COVID-19 pandemic, military conflict with Azerbaijan, Russia’s invasion of Ukraine, and the impacts of climate change. The series is aligned with the government’s medium-term program and the focus areas of the World Bank Group’s Country Partnership Framework (CPF) for the Republic of Armenia. The proposed operation benefits from US$16 million in concessional financing from the Global Concessional Financing Facility (GCFF) to support the authorities’ efforts to deal with the refugees from Nagorno-Karabakh (NK). This operation is also aligned with the key elements of the World Bank Group (WBG) Evolution Roadmap and aims to mitigate country challenges that contribute to regional and global challenges.
Project Development Objective (PDO)
The development objective of this DPO series is to promote green, resilient and inclusive development in Armenia, by fostering climate change mitigation and adaptation, improving the regulatory framework for environmental management, enhancing equity and promoting human capital development, and strengthening the anti-corruption framework and justice sector efficiency.
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