Re: Armenia's Economic Pulse
"CHALLENGES" ARE LEAVING ARMENIA
Lragir.am
15:12:34 - 14/02/2011
Why does the Millennium Challenges Corporation end financing programs
in Armenia?
At the latest sitting of the board of management of Millennium
Challenges Account-Armenia, an option plan for closing the program,
"MCA-Armenia" was presented. At the same time, the Corporation has
recently expanded its support to Georgia for the next year.
Recall, the agreement with the corporation was stipulated with Armenia
in 2006 and supposed financial assistance of 236 million dollars. By
the time the project was under construction, electoral processes kicked
off in Armenia, which ended with tragic events and an unpleasant
assessment by the State Dept. as a result, the sum was reduced to
180 million. 110 million has been allocated so far. The rest will be
allocated within 2011, which is the last year of the five-year program.
It is obvious that the project will be closed without mastering even
the reduced budget of 180 million. The sole reason for refusal by
the U.S. government is said the state of democracy in Armenia.
Unwillingness or inability of the Armenian government to implement
reforms, in fact, deprived Armenia of measures, which would not fill
up to the already growing national debt.
The U.S. government will not spend its taxpayers' money to restore
irrigation systems and rural economies of Armenia, which would later
be monopolized.
"CHALLENGES" ARE LEAVING ARMENIA
Lragir.am
15:12:34 - 14/02/2011
Why does the Millennium Challenges Corporation end financing programs
in Armenia?
At the latest sitting of the board of management of Millennium
Challenges Account-Armenia, an option plan for closing the program,
"MCA-Armenia" was presented. At the same time, the Corporation has
recently expanded its support to Georgia for the next year.
Recall, the agreement with the corporation was stipulated with Armenia
in 2006 and supposed financial assistance of 236 million dollars. By
the time the project was under construction, electoral processes kicked
off in Armenia, which ended with tragic events and an unpleasant
assessment by the State Dept. as a result, the sum was reduced to
180 million. 110 million has been allocated so far. The rest will be
allocated within 2011, which is the last year of the five-year program.
It is obvious that the project will be closed without mastering even
the reduced budget of 180 million. The sole reason for refusal by
the U.S. government is said the state of democracy in Armenia.
Unwillingness or inability of the Armenian government to implement
reforms, in fact, deprived Armenia of measures, which would not fill
up to the already growing national debt.
The U.S. government will not spend its taxpayers' money to restore
irrigation systems and rural economies of Armenia, which would later
be monopolized.
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