APPLICATION TO MILLENNIUM CHALLENGES FOR $1.6MLN WORTH ADDITIONAL TRANCHE APPROVED IN ARMENIA
ARKA
May 11, 2009
YEREVAN, May 11. /ARKA/. Management Board of Millennium Challenges
– Armenia Fund presided over by Armenian Premier Tigran Sargsyan
discussed and approved the application to be submitted to the
Millennium Challenges Corporation for an additional tranche, the
government press service reported Friday.
During the meeting, the General Director of the Fund Ara Hovsepyan
said that the $1.6mln worth additional tranche is expected to be
received from the Corporation this quarter (April-June) through the
general payment system.
If received, the additional funds will be used for uninterrupted
rehabilitation works carried out in the scope of six agreements
approved in 2008 under the rural road rehabilitation subprogram.
Road rehabilitation works under six agreements were resumed in April. A
total of 272.9 kilometers are expected to be repaired by June 30 2010.
According to contractors-prepared temporary schedule, construction
works for 1.9bln Drams are to be carried out in April and May.
The application for the additional tranche will be submitted to
the Millennium Challenges Corporation after its ratification by the
Chairman of Management Board.
The Board discussed and approved a plan to review the procurements
of Millennium Challenges – Armenia, as well as the draft agreement
about consulting services for a survey among water user companies
under From Water to Market subprogram of the Fund.
The Chairman of the country’s State Water Committee was assigned to
discuss and comment on the draft document within a week. -0–