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PRESS RELEASE
November 11, 2004
Embassy of the Republic of Armenia
2225 R Street, NW, Washington, DC, 20008
Tel: 202-319-1976, x. 348; Fax: 202-319-2982
Email: [email protected] ; Web: www.armeniaemb.org
Armenia Re-Qualified for Millennium Challenge Account for FY 2005
On November 10, 2004, Secretary of State Colin L. Powell hosted a ceremony
at the State Department to mark the selection of 16 countries, including
Armenia, as potential recipients of Millennium Challenge Account (MCA) funds
for Fiscal Year 2005. Armenia, together with 15 other nations, was already
selected as potential recipient of the MCA for Fiscal Year 2004. The
Millennium Challenge Account is a foreign aid distribution mechanism
introduced by the Bush administration, with a mandate to fund programs
submitted by eligible countries to promote the goals of poverty reduction
and economic development. In order to remain eligible for MCA funds, the
selected nations have to meet rigorous requirements in three categories of
indicators, namely economic freedom and reforms; governance practices; and
commitment to human and social development.
Ambassadors from 16 countries, including Armenian Ambassador to the U.S.,
Dr. Arman Kirakossian were present at the ceremony on behalf of their
countries, and had the opportunity to greet Secretary of State Colin L.
Powell who hosted the ceremony in his capacity as the ex-officio Chairman of
the Board of the Millennium Challenge Corporation, which administers the MCA
funds. Also present were the CEO of the Millennium Challenge Corporation,
Paul V. Applegarth, members of the Board, officials from State Department
and other executive agencies, Members of Congress and Congressional staff,
as well as representatives of NGO's and private sector.
Welcoming and congratulating the official representatives of the 16 nations,
Secretary Powell said in his remarks that the Millennium Challenge
Corporation ".selected 16 countries which have demonstrated through their
policies and practices that they rule justly, invest in their people, and
that they encourage economic freedom." Quoting President George W. Bush,
Secretary Powell noted "that the Millennium Challenge Account was born of
the idea that we should provide greater resources to countries that are
taking greater responsibility for their own development and all of the
countries we have selected are doing just that." He added that selection, in
and of itself, does not guarantee funding since each Millennium Challenge
Account country must first develop its own proposal to promote growth and
reduce poverty, setting clear goals and measurable benchmarks.
**************************************************
For more information on the MCC, please visit www.mcc.gov
For the text of Secretary Powell's remarks, visit
http://www.state.gov/secretary/rm/38040.htm
November 11, 2004
Embassy of the Republic of Armenia
2225 R Street, NW, Washington, DC, 20008
Tel: 202-319-1976, x. 348; Fax: 202-319-2982
Email: [email protected] ; Web: www.armeniaemb.org
Armenia Re-Qualified for Millennium Challenge Account for FY 2005
On November 10, 2004, Secretary of State Colin L. Powell hosted a ceremony
at the State Department to mark the selection of 16 countries, including
Armenia, as potential recipients of Millennium Challenge Account (MCA) funds
for Fiscal Year 2005. Armenia, together with 15 other nations, was already
selected as potential recipient of the MCA for Fiscal Year 2004. The
Millennium Challenge Account is a foreign aid distribution mechanism
introduced by the Bush administration, with a mandate to fund programs
submitted by eligible countries to promote the goals of poverty reduction
and economic development. In order to remain eligible for MCA funds, the
selected nations have to meet rigorous requirements in three categories of
indicators, namely economic freedom and reforms; governance practices; and
commitment to human and social development.
Ambassadors from 16 countries, including Armenian Ambassador to the U.S.,
Dr. Arman Kirakossian were present at the ceremony on behalf of their
countries, and had the opportunity to greet Secretary of State Colin L.
Powell who hosted the ceremony in his capacity as the ex-officio Chairman of
the Board of the Millennium Challenge Corporation, which administers the MCA
funds. Also present were the CEO of the Millennium Challenge Corporation,
Paul V. Applegarth, members of the Board, officials from State Department
and other executive agencies, Members of Congress and Congressional staff,
as well as representatives of NGO's and private sector.
Welcoming and congratulating the official representatives of the 16 nations,
Secretary Powell said in his remarks that the Millennium Challenge
Corporation ".selected 16 countries which have demonstrated through their
policies and practices that they rule justly, invest in their people, and
that they encourage economic freedom." Quoting President George W. Bush,
Secretary Powell noted "that the Millennium Challenge Account was born of
the idea that we should provide greater resources to countries that are
taking greater responsibility for their own development and all of the
countries we have selected are doing just that." He added that selection, in
and of itself, does not guarantee funding since each Millennium Challenge
Account country must first develop its own proposal to promote growth and
reduce poverty, setting clear goals and measurable benchmarks.
**************************************************
For more information on the MCC, please visit www.mcc.gov
For the text of Secretary Powell's remarks, visit
http://www.state.gov/secretary/rm/38040.htm