MILLENNIUM CHALLENGE CORPORATION ALLOCATES $19 MLN FOR ARMENIA IN JAN-MAY 2008
ARKA
June 2, 2008
YEREVAN, June 2. /ARKA/. The Millennium Challenge program allocated
some $19mln for Armenia in January-May 2008, Executive Director of
the Millennium Challenge-Armenia Foundation Ara Hovsepyan reported.
"The program implementation is running according to the schedule,"
he said. "We had difficulties in implementing the road construction
program which is now being agreed with the corporation."
The foundation plans to submit an application to the Millennium
Challenge Corporation for further financial assistance for
July-September programs, according to Hovsepyan. However, he did not
mention the exact sum.
The Executive Director of Millennium Challenge-Armenia pointed out
the corporation has partly satisfied the foundation’s application
on financing $11mln worth April-June programs by allotting $4mln
for Armenia.
The corporation said it needs time to study thoroughly the application.
Under the agreement signed on March 27, 2006, the Millennium Challenges
Corporation is to allocate $235.65mln for irrigation systems and
community roads in Armenia.