Armenian election not to affect US Millennium Challenge project

Arminfo
14 May 07

Yerevan, 14 May: By the end of 2007, Armenia may receive 12m dollars
from the USA as is planned within the framework of the Millennium
Challenge programme, the executive director of the Millennium
Challenges – Armenia Foundation, Ara Hovsepyan, told our correspondent
today.

He said that the schedule of granting money will not change since the
parliamentary election has successfully ended in the republic.

"We have not received any information that the election was rigged,"
Hovsepyan said. He added that the success of the election was one of
the 16 conditions for implementing the programme.

He pointed out that Armenia has already received 3.845m dollars and it
is planned to allocate about 8-9m dollars by the end of 2007. According
to the schedule of the five-year Millennium Challenge programme which
is worth 235.65m dollars, it is planned to allocate 12m dollars in the
first year, 60m dollars in the second year and 70m dollars in the
third year, and after that, the volume of annual allocations will be
reduced, the executive director said.

[Passage omitted: covered details]

From: Emil Lazarian | Ararat NewsPress