HEAD OF MILLENNIUM CHALLENGES CORPORATION TO VISIT ARMENIA

ARKA News Agency, Armenia
March 31 2006

Yerevan, March 31. /ARKA/. Executive Director of the USA Millennium
Challenges Corporation John Danilovich is to be on a visit to
Armenia on April 10-15, 2006, RA Minister of Finance and Economy
Vardan Khachatryan told a press conference. The goal of the visit is
discussing the details of the Millennium Challenges Corporation~Rs
program in Armenia and getting acquainted with preparatory work.

Danilovich intends to get acquainted with the terms of establishing
the Corporation~Rs office in Armenia, which is expected to be opened
in June 2006, as well as with the projects implemented and planned
under the program.

On March 27, 2006, the Millennium Challenges Corporation and the
Republic of Armenia signed a 5-year compact worth $235.5mln under the
program of assistance to Armenia. The program envisages 6% poverty
reduction through a steady increase in agricultural produce.

The Millennium Challenges Corporation was founded early in 2004 under
the US Department of State~Rs program of economic development and
poverty reduction worldwide. P.T. ~V0–