Armenia Re selected for Financing by Millennium Challenges Foundation

YEREVAN (Combined Sources)–Armenia has once again been declared eligible for Millennium Challenge Account funding–a multi-billion dollar US program designed to provide assistance to low-income countries that demonstrate a strong commitment toward good governance and economic growth and reform.

The program is based on the premise that economic development succeeds best where it is linked to free market economic and democratic principles and policies. Eligibility under this program is conditioned on sound policy performance and accountability in the areas of economic freedom–ruling justly–and investing in society.

The chief director of the Millennium Challenges Corporation–John Danilovich sent a message to Armenian president Robert Kocharian informing him that the Board of Directors of the Corporation selected to finance Armenia again in 2006.

In the message Danilovich said that by re-selecting Armenia–"the Corporation accepts your determination to promote the economic development in your country–to consolidate the effective governance–to ensure improved health and education systems."

He congratulated Armenia on behalf of the US government and expressed hope that the two sides will develop a continuous dialogue and come to a mutually acceptable agreement.

"We encourage Armenia to use all the opportunities for establishing a developing partnership with US," said Danilovich.

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