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ARMENIA RECEIVES $35M UNDER MILLENNIUM CHALLENGES CORPORATION PROGRAM
/ARKA/
September 2, 2009
YEREVAN
Armenia has already received $35 million under the Millennium
Challenges Corporation program this year, General Director of
Millennium Challenges - Armenia Fund state non-commercial organization
Ara Hovsepyan reported.
The quarterly application for October-December will be submitted to
the Corporation in mid September. The exact amount is not clear,
yet the application is supposed to be for a quite big amount as
major construction is to be started under the irrigation program,
Hovsepyan said.
The program of the U.S. Millennium Challenges Corporation started in
Armenia on September 29 2006. Under the agreement signed on March 27
2006 the Armenian Government is to receive a $235.65mln worth grant
during five years. The grant is to be used for reduction of rural
poverty in Armenia, rehabilitation of rural roads and irrigation
systems. $108 million will be allocated for rehabilitation of
irrigation systems alone. In 2008, the country received $28 million
from the Corporation.
All the projects under the Corporation programs, including Water to
Market activity, are currently underway, Hovsepyan said. Rural loans
for a total of $2.5 million have been allocated under the program as
loans to agriculture, he said.
The road construction program is lost, but the fund still has much
to do by September 2011, Hovsepyan said. He reported=2 0that the
suspended road construction program has been handed over to the
country's Ministry of Transport and Communication for continuation.
Under the road construction program a total of 273 kilometres of
roads were to be repaired in Armenia (26.5 kilometres had been already
rehabilitated); the cost of the program was to total about $64 million.
On June 10 2009, Millennium Challenges Corporation decided to suspend
the financing of the rural road construction program in Armenia as
measures taken by Armenian government did not comply with democratic
governance standards.
/ARKA/
September 2, 2009
YEREVAN
Armenia has already received $35 million under the Millennium
Challenges Corporation program this year, General Director of
Millennium Challenges - Armenia Fund state non-commercial organization
Ara Hovsepyan reported.
The quarterly application for October-December will be submitted to
the Corporation in mid September. The exact amount is not clear,
yet the application is supposed to be for a quite big amount as
major construction is to be started under the irrigation program,
Hovsepyan said.
The program of the U.S. Millennium Challenges Corporation started in
Armenia on September 29 2006. Under the agreement signed on March 27
2006 the Armenian Government is to receive a $235.65mln worth grant
during five years. The grant is to be used for reduction of rural
poverty in Armenia, rehabilitation of rural roads and irrigation
systems. $108 million will be allocated for rehabilitation of
irrigation systems alone. In 2008, the country received $28 million
from the Corporation.
All the projects under the Corporation programs, including Water to
Market activity, are currently underway, Hovsepyan said. Rural loans
for a total of $2.5 million have been allocated under the program as
loans to agriculture, he said.
The road construction program is lost, but the fund still has much
to do by September 2011, Hovsepyan said. He reported=2 0that the
suspended road construction program has been handed over to the
country's Ministry of Transport and Communication for continuation.
Under the road construction program a total of 273 kilometres of
roads were to be repaired in Armenia (26.5 kilometres had been already
rehabilitated); the cost of the program was to total about $64 million.
On June 10 2009, Millennium Challenges Corporation decided to suspend
the financing of the rural road construction program in Armenia as
measures taken by Armenian government did not comply with democratic
governance standards.