US Millennium Challenge Corporation stopped the financial assistance to Armenia. The decision was passed at the meeting of the Millennium Challenge Corporation Board of Directors chaired by Secretary of State Hillary Clinton, APA reports quoting Armtoday.
The decision concerns only the road construction in Armenia, but not the irrigation system.
The Board of Directors said it made this decision because last actions by the Armenian government were contradictory to the democratic administrative standards of the Millennium Challenge Corporation. “The corporation regrettably reports that it can”t fund the construction of roads in Armenia. The government of Armenia is responsible for that decision because the government“s activity didn”t meet demands of this program,“said Executive Director Rodney Bent. He said the decision wouldn”t be reviewed again.
The Corporation has a right to stop the financial assistance temporarily or completely if the country doesn“t meet the required issues, including freedom of press, transparency of the administration and the government”s activity for prevention of corruption, democratic power of the people.
The Millennium Challenge Corporation signed an agreement with Armenia in 2006. According to the agreement, it must allocate 235.5 million USD to Armenia within five years. 160 million USD should be allocated for the irrigation system.
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