Armenia expects to receive $29 million from Millennium Challenge Corporation

YEREVAN. - Armenia expects to receive $29 million from Millennium Challenge Corporation in 2011.

Out of this amount $28.2 million will be allocated to activities carried out within the framework of revival of irrigation system. The rest is projected for program’s monitoring, assessment and management expenditures.

These issues were discussed at the “MCC – Armenia” regular meeting chaired by Prime Minister Tigran Sargsyan.

As of June, the actual and expected costs of the program amounted to $ 138,200,941.

The last application within the program will be submitted to the corporation in September and will cover expenses related to closure of the program. As a result, the total amount will make $ 176,491,028. Board of directors also approved changes to the plan of program closure.