Armenia Expects To Receive About Two Million Dollars From Millennium

[Maghakian Mike]

ARMENIA EXPECTS TO RECEIVE ABOUT TWO MILLION DOLLARS FROM MILLENNIUM CALLENGE CORPORATION NEXT QUARTER
Editor: Eghian Robert

Noyan Tapan
Jun 27 2007

YEREVAN, JUNE 27, NOYAN TAPAN. The bid for the fourth allocation and
other documents to be submitted to the Millennium Challenge Corporation
(MCC) were discussed at the June 26 sitting of the Management Board of
the Millennium Challenge Account (MCA) in Armenia, which was conducted
by the board chairman, Armenian prime minister, Serge Sargsian. NT
was informed by the RA Government Information and PR Department that,
in addition to the bid, the package contains the quarterly financial
reports, the report on allocation preconditions, the financial and work
plans, the report on quarterly progress, and the report on purchases.

By the fourth bid, Armenia envisages receiving 1 million 991 thousand
753 dollars from the MCC next quarter (July-September 2007). In the
indicated period, the following sums will be allocated to the program
components: 536,107 dollars for rural roads restoration, 1 million 802
thousand 405 dollars for rural irrigation, 89 thousand 490 dollars
for monitoring and evaluation, and 489 thousand 921 dollars for the
program's management and control. Thus, according to the financial
report, the actual forecast expenses make 2 million 917 thousand 923
dollars next quarter. The difference of the sum indicated in the bid
and the actually required sum will be covered at the expense of the
balance on the bank account.