Armenia expects about 19 mln USD from Millennium Challenge Corporation

Armenia expects about 19 mln USD from Millennium Challenge Corporation
ARKA, 15.03.2010

The Millennium Challenge Account - Armenia expects to receive from the Millennium Challenge Corporation $ 18.966 million for agricultural development in April-June 2010, the press service of the Government of Armenia reported.
Funds will be directed almost entirely to pay for contracts on the program for irrigated agriculture.

The rest of the funding will come at the cost of monitoring and evaluation, management and control of the program.
Application for the provision was approved by the members of the board of state non-profit organization the Millennium Challenge Account - Armenia, which met on Friday under the chairmanship of Prime Minister Tigran Sargsyan.
Program of the U.S. government Millennium Challenge Corporation was launched in Armenia on September 29, 2006.

In accordance with the program, Armenia is planning for the 2006-2011 period to receive from the corporation $ 235.65 million for the development of rural infrastructure, in particular, the rehabilitation of roads of local significance, and the irrigation system.

The program will cover 750 thousand farmers, or 75% of rural population of Armenia.
Millennium Challenge Corporation, established in early 2004, is a U.S. State Department program aimed at economic development and reducing poverty in the world.

Corporation provides grant aid to 25 countries worldwide. -0 --