Millennium Challenges Corporation suspends funding project

PanARMENIAN.Net - The Board addressed the future of Millennium Challenges Corporation engagement with Armenia. As a result of the meeting, MCC will not resume funding for any further road construction and rehabilitation. This hold on funding is a result of actions by the government of Armenia that are inconsistent with MCC principles promoting democratic governance. MCC's Board unanimously expressed regret that this action means that MCC will not be able to fully fund this project during the compact term.

"MCC regrets that it cannot move forward with funding road construction in Armenia," Mr. Bent said. "The responsibility for this outcome remains with the government of Armenia, whose actions have been inconsistent with the eligibility criteria that are at the heart of the MCC program. It is particularly disappointing that MCC will not be able to partner with Armenia on completing the roads that will benefit Armenia's rural poor who are our friends and partners in creating growth for the future," continued Mr. Bent. "I do not anticipate that the Board will revisit this issue in the future.", U.S. Department of State. reported.
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