The August 5 Publication of the PanARMENIAN.Net with a link to the Regnum Information Agency – “D. Avetisyan: We expect that Armenia receives a WB Credit of $20 Million by the end of the year” – contained some mistakes as for the content and the negotiation process of the “Millennium Challenges” program. The RA Ministry of Finance and Economy has provided explanations to the correspondents of the PanARMENAN.Net.
The draft program handed by the Armenian Government to the American Corporation of “Millennium Challenges” includes 2 components – investments into the infrastructure of irrigation and the infrastructure of community roads. The project does not cover the spheres of social welfare, public health and education. According to the Armenian proposal of “Millennium Challenges”, the total investment volume is equal to $175mln., not $60mln. as stated before. $118mln. of overall $175mln. is intended for the irrigation infrastructure and the other $57mln. – for the community roads.
As for the negotiation process, it is currently on the stage of joint practical discussions between the MCA team and the Transaction team of the MC Corporation. The discussions will cover the realistic possibility of poverty reduction through economic growth during the implementation of the two components of the MCA Program. The Compact negotiation phase will follow current discussions, becoming a next step towards the realization of the Program. The MCA team informs that the RA population will receive periodical updates on further developments.
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