World Bank supports Armenia’s pension reform
The introduction of the new pension system in Armenia is a right step, Jean-Michel Happi, World Bank's Country Manager for Armenia, said at the Third Annual Pension Conference today in Yerevan.
According to the WB representative, with over 25% of the Armenian population living below the poverty line, the pension reform will lead to an increase in pensions, will ensure permanent incomes and reduce poverty.
Mr Happi also said that from the very beginning of the process, the World Bank has been closely cooperating with the Armenian government, and expresses its readiness to promote the process, in particular in terms of raising awareness about the pension reform in Armenia.