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10th Allocation Bid To Be Submitted To MCC Approved

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  • 10th Allocation Bid To Be Submitted To MCC Approved

    10TH ALLOCATION BID TO BE SUBMITTED TO MCC APPROVED

    Noyan Tapan
    http://www.nt.am?shownews=1010450
    Dec 10, 2008

    YEREVAN, DECEMBER 10, NOYAN TAPAN. At the December 10 sitting of the
    Governing Council of Millennium Challenge Account (MCA) - Armenia state
    nonprofit organization, the 10th allocation bid to be submitted to
    the Millennium Challenge Corporation (MCC) was approved. The sitting
    was conducted by the Chairman of the Council, Armenian Prime Minister
    Tigran Sargsyan.

    The CEO of MCA-Armenia Ara Hovsepian said that by submitting this bid,
    the organization envisages to receive financing of 6,811,305 dollars
    from MCC for the first quarter (January-March) of 2009. The programmed
    expenditures for the indicated quarter make 7,109,153 dollars.

    The expenditures of the 10th allocation bid will be spent on the
    following components: rural road rehabilitation, improved irrigation,
    monitoring and evaluation, and program management and supervision. In
    the words of A. Hovsepian, according to the current forecast data, the
    cost of construction work financed at the expense of the government's
    allocations for the component "rural road rehabilitation" will reach
    11,669,871 dollars (without VAT) at the end of the current quarter,
    while the sum of the program's actual and forecast expenditures for
    December amounts to 28,081,321 dollars.

    As for the work done in the reporting year, it was mentioned the
    repair work of 24.5-km road sections in the south-west of Armenia
    under the rural road rehabilitation program is being completed. At the
    same time, the work envisaging repairs of 273-km road sections with
    60.3 mln dollars under the road construction agreements of the first
    package has begun. Construction of 3rd-category channels in 4 rural
    communities was completed under the improved irrigation program. By
    late 2008, the final designs of 6 main channels, 7 gravity irrigation
    systems and 18 pumping stations will be ready for the construction
    stage in all Armenian marzes, and the construction stage will begin in
    2009. More than 18 thousand beneficiaries have been instructed so far
    on internal management and high-quality agricultural produce under the
    water-to-market component of the improved irrigation program. Under
    this program, over 130 agricultural loans of a total of 1.5 million
    dollars were distributed.

    The allocation bid will be ratified by the chairman of MCA-Armenia's
    Governing Council, after which it will be submitted to MCC for
    approval.
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