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States News Service
May 6, 2011 Friday
MCC CEO DANIEL YOHANNES COMPLETES VISIT TO ARMENIA
THREE-DAY VISIT INCLUDED TOUR OF MCC-FUNDED PROJECTS AND MEETING WITH
PRESIDENT SERZH SARGSYAN
WASHINGTON, DC
The following information was released by the Millennium Challenge
Corporation (MCC):
Daniel Yohannes, the Chief Executive Officer of the U.S. government's
Millennium Challenge Corporation (MCC), today completed a three-day
visit to Armenia to review the results of MCC's nearly $180 million
investment.
Mr. Yohannes's trip, which began May 2, included meetings with
President Serzh Sargsyan and other senior Armenian officials, farmers,
donor partners, and private sector and civil society representatives.
"It has been a great pleasure to visit with the people of Armenia and
see firsthand the results of their hard work and the benefits of MCC's
investments in the country," stated Mr. Yohannes. "Armenia is a
remarkable country, rich in history, culture and natural beauty. Its
future economic growth depends in part on a strong agriculture sector.
With these MCC investments in key components of the agricultural
sector, MCC is contributing to a new era of prosperity for the
Armenian people."
In 2006, MCC signed a five-year compact with the Government of the
Republic of Armenia focused on reducing rural poverty through a
sustainable increase in the economic performance of the agricultural
sector.
MCC investments are refurbishing vital irrigation infrastructure
across Armenia in order to provide a more reliable supply of
irrigation water, increase available farmland, and reduce operational
costs. Increasing the productivity of Armenian farmers provides them
with higher incomes and greater ability to properly maintain and
operate irrigation systems, thereby helping to ensure the
sustainability of MCC's infrastructure investments.
MCC's investments in Armenia include the rehabilitation of 17
irrigation pump stations; the construction of 5 gravity-fed irrigation
systems; the refurbishment of over 27 kilometers of new canal lining;
the installation of 244 water structures on six main canals; the
rehabilitation and improvement of approximately 220 kilometers of
tertiary canals across nearly 90 communities; and the rehabilitation
of the Ararat Valley Drainage System.
MCC's Compact with Armenia is also training nearly 45,000 farmers in
improved agriculture practices, delivering technical assistance to
water supply institutions, and providing $8.5 million in credit to
farmers and small agribusinesses in support of the program objectives.
The Compact, which will be completed in September of this year, is
expected to increase incomes by $425 million and benefit more than
420,000 rural residents in approximately 350 communities across the
country.
###
Millennium Challenge Corporation, a U.S. Government agency designed to
work with developing countries, is based on the principle that aid is
most effective when it reinforces sound political, economic, and
social policies that promote poverty reduction through economic
growth. For more information, please visit www.mcc.gov.
From: A. Papazian
May 6, 2011 Friday
MCC CEO DANIEL YOHANNES COMPLETES VISIT TO ARMENIA
THREE-DAY VISIT INCLUDED TOUR OF MCC-FUNDED PROJECTS AND MEETING WITH
PRESIDENT SERZH SARGSYAN
WASHINGTON, DC
The following information was released by the Millennium Challenge
Corporation (MCC):
Daniel Yohannes, the Chief Executive Officer of the U.S. government's
Millennium Challenge Corporation (MCC), today completed a three-day
visit to Armenia to review the results of MCC's nearly $180 million
investment.
Mr. Yohannes's trip, which began May 2, included meetings with
President Serzh Sargsyan and other senior Armenian officials, farmers,
donor partners, and private sector and civil society representatives.
"It has been a great pleasure to visit with the people of Armenia and
see firsthand the results of their hard work and the benefits of MCC's
investments in the country," stated Mr. Yohannes. "Armenia is a
remarkable country, rich in history, culture and natural beauty. Its
future economic growth depends in part on a strong agriculture sector.
With these MCC investments in key components of the agricultural
sector, MCC is contributing to a new era of prosperity for the
Armenian people."
In 2006, MCC signed a five-year compact with the Government of the
Republic of Armenia focused on reducing rural poverty through a
sustainable increase in the economic performance of the agricultural
sector.
MCC investments are refurbishing vital irrigation infrastructure
across Armenia in order to provide a more reliable supply of
irrigation water, increase available farmland, and reduce operational
costs. Increasing the productivity of Armenian farmers provides them
with higher incomes and greater ability to properly maintain and
operate irrigation systems, thereby helping to ensure the
sustainability of MCC's infrastructure investments.
MCC's investments in Armenia include the rehabilitation of 17
irrigation pump stations; the construction of 5 gravity-fed irrigation
systems; the refurbishment of over 27 kilometers of new canal lining;
the installation of 244 water structures on six main canals; the
rehabilitation and improvement of approximately 220 kilometers of
tertiary canals across nearly 90 communities; and the rehabilitation
of the Ararat Valley Drainage System.
MCC's Compact with Armenia is also training nearly 45,000 farmers in
improved agriculture practices, delivering technical assistance to
water supply institutions, and providing $8.5 million in credit to
farmers and small agribusinesses in support of the program objectives.
The Compact, which will be completed in September of this year, is
expected to increase incomes by $425 million and benefit more than
420,000 rural residents in approximately 350 communities across the
country.
###
Millennium Challenge Corporation, a U.S. Government agency designed to
work with developing countries, is based on the principle that aid is
most effective when it reinforces sound political, economic, and
social policies that promote poverty reduction through economic
growth. For more information, please visit www.mcc.gov.
From: A. Papazian