YEREVAN. – USAID will allocate another $ 1.2 million for private sector development of Armenia.

The draft of the relevant agreement was approved at a meeting of the Government of Armenia on Friday.

The sum will be allocated within the program of competitiveness and diversification of the private sector. The agreement was signed in August 2010, since then the American side has already allocated $55.1 million. An additional $1.2 million will be directed to new programs on the development of private sector.