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Economic development in Armenia gains speed
By Maria Sadoyan - Communications Officer, WV Armenia on 18 Feb 2008
Economic development projects will be launched in nine community development programmes throughout Armenia, signalling World Vision's increasing focus on economic development in the country.
World Vision is in the final stage of conducting an assessment in Armenia that will serve a basis for the new projects, which aim to bring financial opportunity to Armenia’s poor and needy. Approximately 51% of Armenia’s population live below the poverty line, according to the World Bank.
"Our assessment has taken a critical look at our development approach and the future of both this country and the people we are serving," said Prasanna de Silva, ministry capacity and operations director of World Vision Armenia. "The economic development programmes that are resulting from this assessment will strengthen World Vision's efforts to tackle the financial hardship in Armenia."
As the assessment phase concludes, World Vision is seeking potential opportunities and new initiatives for economic development in Armenia. Each of the nine community development programmes will launch pilot initiatives to serve as examples of good economic development practices.
In addition, World Vision will seek stronger partnerships with farm associations; increased cooperation with financial and agricultural companies; opportunities to facilitate training on new technology in various fields such as animal breeding and land cultivation; and capacity building of the local government to ensure economic development activities are sustainable.
World Vision supports an Armenian Microfinance Institution (MFI), called SEF International, which will be involved in the economic development projects through providing loans to World Vision Armenia's direct beneficiaries, as it does now.
"Today Armenia has a rather stable economy and the social sector is undergoing serious reforms, so it is important for World Vision to target quality economic development programmes at the grassroots level to bring lasting change to the lives of poor and needy," says Mr de Silva.
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