Total volume of financing within Millennium Challenges program
framework is $ 39 million
12.09.2009 16:54 GMT+04:00

/PanARMENIAN.Net/ As of September 2009, total volume of financing
within Millennium Challenges program framework is $ 39 million,
Millennium Challenges-Armenia Fund CEO Ara Hovsepyan told a news
conference in Yerevan, adding that an application for $ 16,5 million
financing in the 4th quarter of 2009 will be filed at Millennium
Challenge Corporation administrative board sitting.

According to Hovsepyan, the sum will be allocated to irrigation
project. First stage of irrigation systems’construction will be
launched soon, which explains the increased sum, compared with
October-December 2008.

`From water to market’ program for irrigation system reconstruction is
a major component of Millennium Challenges-implemented programs.

According to Hovsepyan, rural roads’ construction project financing,
which was suspended by Millennium Challenge Corporation for
non-compliance with corporation’s demand, will be delegated to RA
Transportation Ministry.