ARMENIAN LOSES APPROXIMATELY 70 MILLION DOLLARS

LRAGIR.AM
17:43:28 – 11/06/2009

During yesterday’s session of the board of directors of the Millennium
Challenge Corporation, the decision to stop financing the program on
the road construction was made. This decision does not concern the
irrigation subprograms of the program, the Radio Liberty informs.

As the Radio Liberty informs, the reason for this decision is the
fact that the steps of the Armenian government do not coincide with
the measurements of the democratic governance of the Millennium
Challenge Corporation.

The executive director of the Corporation Rodni Bent stated that it
is the Armenian government to bear responsibility for this decision,
as the actions of which do not coincide with the necessary indexes
of the Corporation.

In accordance with the contract signed with the Armenian government,
the Millennium Corporation allocates 235, 6 million dollars to
Armenia, 68 million of which was planned to be allocated for the road
constructional works and more than 160 million for the implementation
of the irrigation subprograms.

The corporation has the right to stop the whole program all its
subprograms if the country does not provide for necessary democratic
progress, which is freedom of media, corruption, transparency of the
governmental actions; the radio Liberty reports.