MILLENNIUM CHALLENGES TO GRANT ARMENIA $175 MILLION
Azg/arm
01 April 05
Press service of the Ministry of Finances and Economy informed that
Armenia has already prepared its package of offers that will be
presented to the Millennium Challenges Fund.
The Armenian government is looking forward to receive $175 financial
aid to invest in the spheres of irrigation and road construction.
Government is hopeful that the money will spur economic activity in
rural regions.
The press release of the Ministry informs that on March 25 the board
of trustees headed by PM Andranik Margarian approved the Millennium
Challenges’ Armenian program, which was presented to the Millennium
Challenges Fund in US. The Armenian government and the US Millennium
Challenges Fund will continue negotiations in coming months to draw up
an agreement.
During 14 years of its independence the Armenian Republic has never
received a permanent loan of this size. Therefore it’s a great chance
to totally improve the irrigation system and the road network that are
a guarantee for the further development of agriculture and for
bettering villagers’ life.
By Ara Martirosian
From: Emil Lazarian | Ararat NewsPress