USA increases aid to Armenia by $8 million
05.09.2019,
16:12
The government of Armenia has approved today a set of amendments to two agreements with the United States, whereby the US is increasing financial assistance to Armenia.
YEREVAN, September 5. /ARКА/. The government of Armenia has approved today a set of amendments to two agreements with the United States, whereby the US is increasing financial assistance to Armenia.
Minister of Economy Tigran Khachatryan said according to the agreement on expanding assistance under a program to help Armenia build a more competitive and diverse private sector the USA has already provided financing to Armenia to the total amount of $80.704 million.
According to him, the program is aimed at boosting economic growth and its six components - the macroeconomic basis for growth, trade and investment, the financial sector, the competitiveness of the private sector, infrastructure and the environment as well as investments in education, healthcare, social security and social protection.
He said the additional assistance will amount to $3.7 million that will be channeled into two new areas - competition of the private sector and development of infrastructure.
As part of the second program, aimed at competitive, productive and accountable management, more than $35 million has been allocated by USA to Armenia since 2013.
"Amendments to the second program suggest increasing funding by $4.8 million to assist Armenian initiatives," said Finance Minister Atom Janjughazyan.
Summing up the decisions, Prime Minister Nikol Pashinyan noted that the funds will be directed to the implementation of specific programs.
"In fact, under two agreements, US assistance to Armenia is increasing by $8 million, which may also be used to develop rural communities," Pashinyan said. --0—
Minister of Economy Tigran Khachatryan said according to the agreement on expanding assistance under a program to help Armenia build a more competitive and diverse private sector the USA has already provided financing to Armenia to the total amount of $80.704 million.
According to him, the program is aimed at boosting economic growth and its six components - the macroeconomic basis for growth, trade and investment, the financial sector, the competitiveness of the private sector, infrastructure and the environment as well as investments in education, healthcare, social security and social protection.
He said the additional assistance will amount to $3.7 million that will be channeled into two new areas - competition of the private sector and development of infrastructure.
As part of the second program, aimed at competitive, productive and accountable management, more than $35 million has been allocated by USA to Armenia since 2013.
"Amendments to the second program suggest increasing funding by $4.8 million to assist Armenian initiatives," said Finance Minister Atom Janjughazyan.
Summing up the decisions, Prime Minister Nikol Pashinyan noted that the funds will be directed to the implementation of specific programs.
"In fact, under two agreements, US assistance to Armenia is increasing by $8 million, which may also be used to develop rural communities," Pashinyan said. --0—
