ARMINFO, 4 JUN 2003. The World Bank has given Armenia the first sum worth $20mln under the SAC-5 [Structural Adjustment Credit], the press service of the Armenian Finance and Economy Ministry has told our news agency today.

The source said that the $20mln had been allocated on standard terms of the International Development Association. A part of the sum has been channeled into the repayment of foreign loans, and another part will be spent on the implementation and deepening of structural reforms. The overall cost of the World Bank's SAC-5 program is $40mln.

The Armenian Finance Ministry said that another $20mln would be provided in the autumn this year. Thirty programs with the overall cost of $737mln have been implemented under the aegis of the World Bank in Armenia.