MCA delegation to come to Armenia to specify aid proposals


Oct 13 2004

YEREVAN, OCTOBER 13, ARMENPRESS: Armenian finance and economy
minister Vartan Khachatrian revealed Tuesday that his government did
not submit its proposals to the Millennium Challenges Account (MCA),
a U.S. government agency, established to handle a scheme designed to
promote economic and political reform in low-income countries. The
minister said the proposals would be submitted before the end of
the year.

Khachatrian headed a government delegation that was in the USA from
October 2 to October 5 to meet with senior officials of the MCA.
Armenia is among other 15 countries which have qualified for the
assistance. Khachatrian said the MCA funds to these 16 countries for
the first year will be around $1 billion and $1.5 billion for the
second year. He said some other countries included in the list have
also postponed submission of their proposals to the MCA.

According to Khachatrian, MCA executives would not reveal any
information about the volume of the aid Armenia may anticipate and
did not set any specific dates, saying the aid will be released as
soon as the country submit well-developed proposals.

Khachatrian said an MCA delegation is due in Armenia very soon to
most likely help the government to develop well-grounded proposals
that would meet MCA requirements.

Earlier Armenian officials said the Armenian government will ask
for as much as $900 million in MCA funds for the next three years
to spend the money on reconstructing the country’s irrigation and
drinking water infrastructure, but Khachatrian said that Armenia may
hope for $100-$120 million worth funds for the first year.