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MILLENNIUM CHALLENGE CORPORATION EXPECTED TO ALLOCATE $ 60 MILLIONS TO RA
DeFacto Agency, Armenia
March 19 2007
Ambassador John Danilovich, CEO of the Millennium Challenge
Corporation, this week told members of a key House foreign aid panel
that Armenia had made a number of reforms that were both "positive and
constructive," and expressed that elections in Armenia be "conducted
correctly", Armenian Assembly of America (AAA) reports.
Danilovich appeared before the House Appropriations Subcommittee
on State, Foreign Operations and Related Programs to discuss MCC's
funding needs for Fiscal Year 2008.
Committee Chairwoman Nita Lowey (D-NY), in her opening statement,
stressed that MCC funding had been designed to be additive, and
should not take away from other funding programs, such as the Freedom
Support Act. Her concerns were echoed by Congressman Jesse L. Jackson,
Jr. (D-IL) and Armenian Caucus Co-Chair Rep. Joe Knollenberg (R-MI),
who also noted that Armenia must work to sustain its status as an
MCC recipient.
Last week, Randall L. Tobias, U.S. Director of Foreign Assistance
and USAID Administrator, told Committee Members that MCC funding "is
expecting to disperse 60 million dollars" in FY 2008 alone and that
"together with foreign aid, Armenia will receive 98 million dollars,
or a 34 percent increase."
The Administration has requested $35 million in economic assistance
to Armenia for FY 2008, a reduction of more than 50 percent over the
FY 2007 approved funding level of approximately $75 million.
Last year, the United States and Armenia took a major step forward
with the signing of the Millennium Challenge Compact - a five-year
$235.65 million agreement intended to reduce Armenia's rural poverty
and increase agricultural productivity.
Secretary of State Condoleezza Rice, who took part in the signing
ceremony, called the event a "promising" step in the U.S.-Armenia
partnership and a "testament to the hard work and dedication of the
Armenian people and their elected government."
Established in 2004, MCC is based on the principle that aid is most
effective, when it reinforces good governance, economic freedom and
investments in people. MCC is responsible for the stewardship of the
Millennium Challenge Account (MCA), which receives funds appropriated
by Congress every year.
From: Emil Lazarian | Ararat NewsPress
DeFacto Agency, Armenia
March 19 2007
Ambassador John Danilovich, CEO of the Millennium Challenge
Corporation, this week told members of a key House foreign aid panel
that Armenia had made a number of reforms that were both "positive and
constructive," and expressed that elections in Armenia be "conducted
correctly", Armenian Assembly of America (AAA) reports.
Danilovich appeared before the House Appropriations Subcommittee
on State, Foreign Operations and Related Programs to discuss MCC's
funding needs for Fiscal Year 2008.
Committee Chairwoman Nita Lowey (D-NY), in her opening statement,
stressed that MCC funding had been designed to be additive, and
should not take away from other funding programs, such as the Freedom
Support Act. Her concerns were echoed by Congressman Jesse L. Jackson,
Jr. (D-IL) and Armenian Caucus Co-Chair Rep. Joe Knollenberg (R-MI),
who also noted that Armenia must work to sustain its status as an
MCC recipient.
Last week, Randall L. Tobias, U.S. Director of Foreign Assistance
and USAID Administrator, told Committee Members that MCC funding "is
expecting to disperse 60 million dollars" in FY 2008 alone and that
"together with foreign aid, Armenia will receive 98 million dollars,
or a 34 percent increase."
The Administration has requested $35 million in economic assistance
to Armenia for FY 2008, a reduction of more than 50 percent over the
FY 2007 approved funding level of approximately $75 million.
Last year, the United States and Armenia took a major step forward
with the signing of the Millennium Challenge Compact - a five-year
$235.65 million agreement intended to reduce Armenia's rural poverty
and increase agricultural productivity.
Secretary of State Condoleezza Rice, who took part in the signing
ceremony, called the event a "promising" step in the U.S.-Armenia
partnership and a "testament to the hard work and dedication of the
Armenian people and their elected government."
Established in 2004, MCC is based on the principle that aid is most
effective, when it reinforces good governance, economic freedom and
investments in people. MCC is responsible for the stewardship of the
Millennium Challenge Account (MCA), which receives funds appropriated
by Congress every year.
From: Emil Lazarian | Ararat NewsPress