Millennium Challenge Approves Partial Funding

YEREVAN (Armenpress)-Partial Millennium Challenge Corporation funding for development programs for April-June of 2008 has been received, Millennium Challenge Foundation-Armenia Executive Director Ara Hovsepian told Armenpress on Tuesday.
He said that the application for funding has been approved, but only $4 million dollars from the allotted $11 Million have received. One road construction program is still being discussed by the corporation, he explained. The MFC has explained that more time is needed for detailed discussion of the specific road construction program.
A decision by the MFC on the complete funding of the road construction program are expected to be received in the near future, Hovsepian noted, adding that the $4 million will be directed toward continuing the programs of MFC-Armenia.


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