MILLENNIUM CHALLENGES CORPORATION SUSPENDS FUNDING PROJECT

/PanARMENIAN.Net/
11.06.2009 19:40 GMT+04:00

/PanARMENIAN.Net/ The Board addressed the future of Millennium
Challenges Corporation engagement with Armenia. As a result of the
meeting, MCC will not resume funding for any further road construction
and rehabilitation. This hold on funding is a result of actions by
the government of Armenia that are inconsistent with MCC principles
promoting democratic governance. MCC’s Board unanimously expressed
regret that this action means that MCC will not be able to fully fund
this project during the compact term.

"MCC regrets that it cannot move forward with funding road construction
in Armenia," Mr. Bent said. "The responsibility for this outcome
remains with the government of Armenia, whose actions have been
inconsistent with the eligibility criteria that are at the heart
of the MCC program. It is particularly disappointing that MCC will
not be able to partner with Armenia on completing the roads that
will benefit Armenia’s rural poor who are our friends and partners
in creating growth for the future," continued Mr. Bent. "I do not
anticipate that the Board will revisit this issue in the future.",
U.S. Department of State. reported.