Millennium Challenge Corporation won't suspend activities in Armenia

PanARMENIAN.Net - The Millennium Challenge Corporation (MCC) Board of Directors held its quarterly meeting chaired by U.S. 1st Secretary of State Hillary Rodham Clinton. A new Board member, Secretary of the Treasury, Timothy Geithner, attended the meeting to discuss MCC programs and review in detail MCC's current partnership with Armenia. The board expressed its concern regarding the current democratic governance in Armenia as is said in the report placed in the official site of "Millennium Challenge" Corporation.



Considering the problems with democratic governance in Armenia, the Board calls for extraordinary interim session before the forthcoming meeting in June to review the progress.



As a result of the meeting, the Corporation will continue to provide assistance to Armenia in rehabilitation of the rural roads as well as in irrigation infrastructure to assist Armenian farmers. The Board will review the current hold on funding road activities at a special session prior to the June Board meeting.



The total amount of the funding program "The Millennium Challenge-Armenia" for the current year makes $70m.