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Armenia Plans To Get $70mln From Millennium Challenges Corporation

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  • Armenia Plans To Get $70mln From Millennium Challenges Corporation

    ARMENIA PLANS TO GET $70MLN FROM MILLENNIUM CHALLENGES CORPORATION

    ARKA
    March 2, 2009

    YEREVAN, March 2. /ARKA/. The planned funding under the program of
    the Millennium Challenges Corporation in Armenia is $70mln.

    Ara Hovsepyan, Director General of the Millennium Challenge
    Account-Armenia, reported that the funds will be provided in quarterly
    portions. A total of $$6.8mln are to be received in January-March. "On
    March 13, we plan to apply for $12mln funding for April-June,"
    Hovsepyan said.

    He said that construction work is to get under way under all the
    programs to be implemented in Armenia. Hovsepyan pointed out that
    the construction has been started under the irrigation program. As
    regards the road construction program, the construction got under
    way last year and is to be resumed on March 15.

    Hovsepyan also reported that the road construction program provides
    for the renovation of 273 km of roads. He pointed out that 26.5km of
    roads have been renovated.

    Under a compact signed on March 27, 2006, the US Millennium Challenges
    Corporation is to allocate $235.65mln to Armenia for irrigation and
    rural road renovation programs.

    Last year Armenia actually received a total of $28mln from the
    Corporation.
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