MCC will allocate USD 150 million to Georgia’s economy

PanARMENIAN.Net - Millennium Challenge Corporation will provide Georgia with the second tranche of USD 100-150 million, said in Washington the Chief Executive Officer of MCC, Daniel Johannes, when speaking at a meeting of the Foreign Relations Committee U.S. House of Representatives.

He noted that "the MCC budget for 2012 will amount to 1 billion 125 million dollars, which will allow to approve a new round of financing projects in Georgia and Ghana." According to Johannes, "these countries were chosen based on their strong policies, access to markets, strategic and regional importance to the United States and the criteria for successful implementation of the first tranche", Business Georgia reports.

The first tranche of $ 300 million was allocated Georgia in September 2005 and was later increased by another $ 100 million. The first tranche allowed Georgia to implement Georgia, five major infrastructure projects: the rehabilitation of main gas pipeline "North-South”, general renovation of energy infrastructure of Georgia, a project of roads reconstruction in the region of Javakheti, the development of regional infrastructure and the rehabilitation of agricultural sector, according to Vestnik Kavkaza.