PanARMENIAN.Net

Millennium Challenge Corporation won’t suspend activities in Armenia
12.03.2009 19:58 GMT+04:00

/PanARMENIAN.Net/ The Millennium Challenge Corporation (MCC) Board of
Directors held its quarterly meeting chaired by U.S. 1st Secretary of
State Hillary Rodham Clinton. A new Board member, Secretary of the
Treasury, Timothy Geithner, attended the meeting to discuss MCC
programs and review in detail MCC’s current partnership with
Armenia. The board expressed its concern regarding the current
democratic governance in Armenia as is said in the report placed in
the official site of `Millennium Challenge’ Corporation.

Considering the problems with democratic governance in Armenia, the
Board calls for extraordinary interim session before the forthcoming
meeting in June to review the progress.

As a result of the meeting, the Corporation will continue to provide
assistance to Armenia in rehabilitation of the rural roads as well as
in irrigation infrastructure to assist Armenian farmers. The Board
will review the current hold on funding road activities at a special
session prior to the June Board meeting.

The total amount of the funding program `The Millennium
Challenge-Armenia’ for the current year makes $70m.