U.S. AND ARMENIA TO SIGN MILLENNIUM CHALLENGE COMPACT MARCH 27

PanARMENIAN.Net
27.03.2006 22:51 GMT+04:00

/PanARMENIAN.Net/ The U.S. government’s Millennium Challenge
Corporation (MCC) is set to award a $235 million grant to improve
Armenia’s transportation and agricultural infrastructure. Secretary of
State Condoleezza Rice, who chairs the MCC board, is scheduled to speak
at the signing ceremony March 27, the State Department said. Armenian
Foreign Minister Vartan Oskanian, and MCC Chief Executive Officer
John Danilovich also are scheduled to make remarks at the compact’s
signing. Danilovich approved the grant in December 2005 but also
wrote a letter to Armenian President Robert Kocharian warning that
the United States has concerns about the country’s respect for human
rights and free elections following Armenia’s constitutional referendum
in November 2005. The $235 million is scheduled to be awarded over
several years; some of the grant money could be withheld if Armenia
does not meet MCC goals of “sound policies and good governance.”

The Millennium Challenge agreement for Armenia aims to combat rural
poverty through improving economic performance in the agricultural
sector, according to the State Department’s announcement. The compact
features two programs: a rural road rehabilitation project and an
irrigated agriculture project. The compact is expected to affect 75
percent of Armenia’s rural population and to boost annual incomes of
poor farmers.

From: Emil Lazarian | Ararat NewsPress