SITTING OF COUNCIL OF BENEFICIARIES OF "MILLENNIUM CHALLENGE ACCOUNT – ARMENIA" PROGRAM TO LAUNCH AUGUST 17

Arka News Agency, Armenia
Aug. 14, 2006

YEREVAN, August 14. /ARKA/. A regular sitting of the Council of
beneficiaries of the "Millennium Challenge Account – Armenia" program
will be held in Yerevan on August 17, the member of the Council Levon
Barsegyan reported. He said that the Council plans to approve the
statue of the Council of beneficiaries during the sitting.

The Council of beneficiaries under the "Millennium Challenge Account –
Armenia" program was organized on May 2, 2006. It consists of nine
NGO representatives, two representatives from the associations of
water consumers, beneficiary communities and farming economies.

The agreement on giving Armenia $235.5mln loan for five years under
the "Millennium Challenge Account" American corporation was signed
in Washington on March 27.

The corporation was founded at the beginning of 2004 under the State
Department’s program, aimed at developing economies and reducing
poverty in the world.