ARMENIA TO APPLY TO MILLENNIUM CHALLENGE CORPORATION FOR $1,6 MILLION FUNDING

PanARMENIAN.Net
11.05.2009 12:19 GMT+04:00

/PanARMENIAN.Net/ Millennium Challenge Fund -Armenia NGO passed a
draft application to Millennium Challenge Corporation for additional
tranche provision, RA Government Press Service reported.

Millennium Challenge Fund -Armenia CEO Ara Hovsepyan noted that the
application for extra tranche contained a request for USD 1,6 million
funding. According to Hovsepyan, means received will be allocated to
rural roads reconstruction in accordance with 2008 Project.

Reconstruction works were resumed in April 2009. 272,9 km of road will
be repaired till June 30, 2010. AMD 1,9 million will be allocated to
reconstruction works in April-May 2009.

Upon receiving ratification by Millennium Challenge Fund -Armenia
Administrative Board chairman, RA Prime Minister Tigran Sargsyan,
the application will be submitted to millennium Challenge Corporation.