PRESS RELEASE
May 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: armecon@speakeasy.net; Web:

Armenia Among Other Countries honored at a White House Ceremony

On May 10, 2004, U.S. President George Bush hosted a ceremony at the
White House to mark the recent selection of 16 countries, including
Armenia, as recipients of Millennium Challenge Account (MCA) funds. The
MCA, a foreign aid distribution mechanism introduced by the Bush
administration, will fund programs submitted by eligible countries
to promote the goals of poverty reduction and economic development.

Ambassadors from 16 countries, including Armenian Ambassador to the
U.S., Dr. Arman Kirakossian were present at the ceremony and had an
opportunity to briefly meet with President Bush. Also present were
Senator Dick Lugar, Representative Tom Lantos, and the members of the
Board of the Millennium Challenge Corporation, which administers the
MCA funds. Secretary of State Colin Powell is the ex-officio Chairman
of the Board; the Board includes other senior members of the Cabinet.

In his remarks during the ceremony, President Bush congratulated
the countries selected as potential recipients of MCA funds, noting
that these countries “have taken the first courageous steps toward
greater independence and greater wealth, and greater hopes for the
people you serve.” He also said, “To be eligible for this new money,
nations must root out corruption, respect human rights, and adhere
to the rule of law. They must invest in their people by improving
their health care systems and their schools. They must unleash the
energy and creativity necessary for economic growth by opening up
their markets, removing barriers to entrepreneurship, and reducing
excessive bureaucracy and regulation. The 16 nations represented here
today have done all this and more.”

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