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Disclosable Restructuring Paper - Trade Promotion and Quality Infrastructure - P146994 (Inglês)

The objective of the Trade Promotion and Quality Infrastructure Project for Armenia is to strengthen the government's capacity to provide export promotion, investment attraction and quality management services to firms. This project restructuring is in response to the request from the Ministry of Finance of the Republic of Armenia (MoF) dated April 1, 2019 (enclosed). The request is to replace the Foreign Financial Projects Management Center (‘FFPMC’) as the project implementing agency under MoF responsible for fiduciary functions with the newly created Project Implementation Department (‘PID’). The PID is the new name of the same implementing agency which has been subject to organizational changes for absorbing the subordinate project implementing unit (PIU) within the structure of MoF. The amendment does not entail any other changes to the project. The project team re-assessed the financial management and procurement arrangements and concluded that the capacity remains satisfactory. The financial management arrangements under the project are adequate and acceptable to the Bank, and there are no overdue audits under the project.

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