ARMENIA EXPECTS ABOU 19 MLN USD FROM MILLENNIUM CHALLENGE CORPORATION

ARKA
March 15, 2010

YEREVAN, March 15. / ARKA /. The Millennium Challenge Account –
Armenia expects to receive from the Millennium Challenge Corporation
$ 18.966 million for agricultural development in April-June 2010,
the press service of the Government of Armenia reported.

Funds will be directed almost entirely to pay for contracts on the
program for irrigated agriculture.

The rest of the funding will come at the cost of monitoring and
evaluation, management and control of the program.

Application for the provision was approved by the members of the board
of state non-profit organization the Millennium Challenge Account –
Armenia, which met on Friday under the chairmanship of Prime Minister
Tigran Sargsyan.

Program of the U.S. government Millennium Challenge Corporation was
launched in Armenia on September 29, 2006.

In accordance with the program, Armenia is planning for the 2006-2011
period to receive from the corporation $ 235.65 million for the
development of rural infrastructure, in particular, the rehabilitation
of roads of local significance, and the irrigation system.

The program will cover 750 thousand farmers, or 75% of rural population
of Armenia.

Millennium Challenge Corporation, established in early 2004, is a U.S.

State Department program aimed at economic development and reducing
poverty in the world.

Corporation provides grant aid to 25 countries worldwide.