The Armenian Foreign Ministry has issued a statement in view of the ratification of cooperation program with Armenia by the Millennium Challenge Corporation. The statement says, "On December 16, the Millennium Challenge Corporation approved the Millennium Challenge Compact with Armenia. The Compact is aimed at reducing rural poverty and fostering economic development in Armenia's rural regions. The Millennium Challenge Corporation's decision to allocate $235.65 million to Armenia for that purpose confirms the continuous assistance of the US government for Armenia's economic and democratic development. On behalf of the Armenian people and the government of the Republic of Armenia, we express our deep appreciation to the government of the United States of America for their assistance to and confidence in the Republic of Armenia. The significance and essence of the Millennium Challenge program is to support those countries which demonstrate good governance, and unwavering commitment to invest in human resources and in the principles of democracy and a liberal economy. Nevertheless, we are very aware that the decision of the Millennium Challenge Corporation is not irreversible, and we have much to do to assure our continuous and complete inclusion in that program. By taking into serious consideration the concerns expressed by MCC President Ambassador John Danilovich in his letter to the President of the Republic of Armenia, we wish to reaffirm our commitment to those fundamental principles which are essential to qualify for MCC assistance. Deeply aware that we have serious work to do to implement reforms in Armenia, we are determined to respond to all the issues raised in the letter. Towards that end, we are prepared to cooperate with all interested individuals and organizations."