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- Infrastructure and Rural Finance Support Program (IRFSP)
Infrastructure and Rural Finance Support Program (IRFSP)
Armenia
Borrower | Armenia |
Financing Type | Public Sector |
Instrument | Project Loan |
Focus Area | Agriculture |
Approved | 16.12.2014 |
Signed | 03.09.2015 |
Status | Completed |
Loan Administrator | OPEC Fund |
Executing Agency | Ministry of Agriculture |
Co-financiers | IFAD, IFAD Grant, Government, Beneficiaries, RFF Clients |
OPEC Fund Contribution (US$m) | 25.00 |
Total Project Cost (US$m) | 52.77 |
Aims of this project are to reduce rural poverty and improve the socio-economic status of the population, especially among women and youth. OFID’s loan will specifically fund the improvement of rural water supply systems and irrigation networks. In all, around 78,000 individuals are expected to benefit from the project. Works will include development of around 3,200 ha in 35 communities, targeting poor farmers and rural households. This will be achieved by developing of small and medium-scale irrigation distributions systems. Another component will provide households with water supplies for consumption and agricultural purposes. This will be implemented in close coordination with water management companies active in rural Armenia.