Millennium Challenge Corporation Vice President to visit Armenia

Millennium Challenge Corporation Vice President to visit Armenia

PanARMENIAN.Net - Vice President for Compact Operations of the Millennium Challenge Corporation, Patrick Fine, will visit Armenia October 2-4 to review the results of the five year US-funded MCA-Armenia Program. During his visit he will meet with Armenian President Serzh Sargsyan, senior officials of the Government of Armenia, farmer beneficiaries, donor partners, and private sector and civil society representatives.

In 2006, the U.S. Government’s Millennium Challenge Corporation (MCC) and the Government of the Republic of Armenia signed a Compact with the objective of reducing rural poverty through a sustainable increase in the economic performance of the agricultural sector. Since its completion on September 29, 2011, the MCC grant investment of nearly USD 177 million in the MCA-Armenia program has benefitted over 420,000 rural residents in around 350 communities across Armenia by refurbishing major sections of the country’s main canal systems, modernizing some of the most urgently needed pumping stations, introducing new gravity irrigation schemes, re-building tertiary canals and restoring sections of the Ararat Valley Drainage system. The MCA-Armenia program has also trained over 45,000 farmers in improved agriculture practices, delivering technical assistance to water supply institutions, and providing USD 8.5 million in credit to farmers and small agribusinesses to support the program objectives.

MCC is an innovative U.S. foreign aid agency that is helping lead the fight against global poverty.

 Top stories
Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”.
Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision.
The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision.
Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.
Partner news
---