ARMENIA TO RECEIVE $6.8 MILLION BEFORE APRIL UNDER MILLENNIUM CHALLENGES PROGRAM

ARKA
Feb 2, 2009

YEREVAN, February 2. /ARKA/. Armenia will receive $6.8 million in the
1st Q 2009 as part of United States’ Millennium Challenges Program,
Ara Hovsepyan, executive general director of Millennium Challenges
Fund – Armenia non-commercial organization, said on Friday.

He told journalists that the corporation approved the fund’s
application for the program implementation on December 30, 2008.

"The money targets mainly programs aimed at irrigation and restoration
of water infrastructures", Hovsepyan said.

In his words, Millennium Challenges Fund – Armenia has already embarked
on the program. In particular, the fund signed an agreement with Sade,
a French company, on reconstruction of Arzni-Shamiram water pipeline.

Hovsepyan said that the company has launched the groundwork for
the reconstruction and is now cleaning the channel of dilapidated
4.2-kilometer water pipeline.

Preparation for reconstruction of 18 pump stations is under way
as well, and the contractor will be chosen in tender and named by
mid-February.

Armenia plans to receive $70 million in 2009 against $28 million
in 2008.

Under the agreement signed on March 27, 2006, Millennium Challenges
Corporation is to provide $235.65 million within five years for
reconstruction of irrigation infrastructures and roads.

As of September 30, 2008, $22, 5 million has been alread y transferred
under the program.

Armenian Government has allocated $16.8 million for repairing rural
roads as part of Millennium Challenges Fund’s programs. -0—