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Millennium Challenges To Grant Armenia $175 Million

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  • Millennium Challenges To Grant Armenia $175 Million

    MILLENNIUM CHALLENGES TO GRANT ARMENIA $175 MILLION

    Azg/arm
    01 April 05

    Press service of the Ministry of Finances and Economy informed that
    Armenia has already prepared its package of offers that will be
    presented to the Millennium Challenges Fund.

    The Armenian government is looking forward to receive $175 financial
    aid to invest in the spheres of irrigation and road construction.
    Government is hopeful that the money will spur economic activity in
    rural regions.

    The press release of the Ministry informs that on March 25 the board
    of trustees headed by PM Andranik Margarian approved the Millennium
    Challenges' Armenian program, which was presented to the Millennium
    Challenges Fund in US. The Armenian government and the US Millennium
    Challenges Fund will continue negotiations in coming months to draw up
    an agreement.

    During 14 years of its independence the Armenian Republic has never
    received a permanent loan of this size. Therefore it's a great chance
    to totally improve the irrigation system and the road network that are
    a guarantee for the further development of agriculture and for
    bettering villagers' life.

    By Ara Martirosian

    From: Emil Lazarian | Ararat NewsPress
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