USA, ARMENIA SIGN DEAL ON POVERTY REDUCTION

Public Television of Armenia, Yerevan
28 Mar 06

The American Millennium Challenges Corporation and Armenia signed an
agreement at the State Department in Washington a few hours ago. Under
the agreement the Armenian government will receive 235.65m dollars
within the next five years to reduce poverty in rural areas and
restore infrastructure, roads and irrigation systems in rural places.

Armenian Minister of Finance and Economy Vardan Khachatryan and
executive director of the Millennium Challenges Corporation John
Danilovich signed the agreement. US Secretary of State Condoleezza
Rice and Armenian Foreign Minister Vardan Oskanyan also took part in
the signing ceremony.

The main aim of the programme is the reduction of poverty in rural
areas by ensuring a stable growth of agricultural goods. Within the
framework of the programme, 750,000 people or 75 per cent of the
rural population of Armenia will receive aid.

By implementing this programme the poverty is expected to be reduced
by 6 per cent. Under the programme, 67m dollars will be used to
rebuild rural roads, 146m dollars to upgrade the irrigation system
and the remaining 23m dollars will used to monitor, assess, control
and manage the programme.

Armenia is our best partner and we are glad to assist Armenia and to
provide a better life for all the Armenians, executive director of the
Millennium Challenges Corporation John Danilovich said. The corporation
will continue to control the implementation of this programme in
Armenia during the next five years, the executive director of the
corporation noted.