PanARMENIAN.Net
Armenia seeks $8mln from MCC for 2009 second quarter
13.03.2009 15:51 GMT+04:00
/PanARMENIAN.Net/ Millennium Challenge Account – Armenia
administrative board meeting was held today under chairmanship of RA
Prime Minister Tigran Sargsyan. The meeting participants focused on
discussion and ratification of 11th application to Millennium
Challenge Corporation. Millennium Challenge Account General Director
Ara Hovsepyan indicated that the 11th application stipulated financing
of $7 million 993 thousand in the second quarter of 2009 (Apr.-Jun.).
The means will be allocated to rural roads reconstruction ($432 000),
irrigation ($6.8 mln.) and monitoring. Ara Hovsephan stressed that the
government had already provided $12 mln. for rural roads
reconstruction to be continued with the moneys provided by the Fund.
An application for new investments will be filed after the termination
of the second quarter.
According to Ara Hovsepyan, by the end of the third quarter the total
volume of expenditures will comprise $30,8 million. The means received
will be spent to lay water channels and project drainage system in 4
communities. The Council has scheduled providing $3 mln. credit to
farmers.
The application is awaiting discussion by the Millennium Challenge
Corporation Council.
From: Emil Lazarian | Ararat NewsPress
