BOARD OF MILLENNIUM CHALLENGES – ARMENIA FOUNDATION DISCUSS CURRENT PROGRAMS

ARKA
March 28, 2008

YEREVAN, March 28. /ARKA/. At its sitting today chaired by RA Prime Minister
Serge Sargsyan, the Board of the Millennium Challenges – Armenia Foundation
discussed and approved the results of a tender for road renovation as part
of the rural road renovation component of the program funded by the
Corporation.

The Board also discussed proposals for a tender for consultations on the
strengthening the potential of organizations in charge of the irrigation
sector.

Ara Hovsepyan, CEO Millennium Challenges – Armenia Foundation, informed the
Board members of the planned consultations of the renovation of the drainage
system in the Ararat valley and supervision of the project. The
consultations are to be provided as part of the program’s irrigated
agriculture component.

With this end in view, the Foundation plans to apply to experienced
consulting companies.

The US Millennium Challenges Corporation launched its program in Armenia on
September 29, 2006.

Under a compact signed on March 27, 2006, Armenia is to receive $235.65mln
during five years. In 2007, Armenia received $11mln under the program.