Armenia is for the first time taking part in the annual session of the United Nations Department of Economic and Social Affairs (ECOSOC) as a member of this organization. As reported by Armenian MFA press service, head of the State Committee Cadastre of Real Estate under the RA government Manuk Vardanian stated when addressing the session that poverty reduction is one of the principal tasks for Armenia. "This issue urges the mobilization of domestic and external resources as well as cooperation between financial organizations with active engagement of private business", Vardanian noted. In his words, direct investments and state assistance are the significant components of the development. In this view he underscored the importance of Armenia's including in the list of the countries eligible for Millenium Challenge Account. ECOSOC has been founded to contribute to the improvement of living standards, population employment, economic and social progress.