YEREVAN, MARCH 13, NOYAN TAPAN. A sitting of the Governing Council of the Millennium Challenge Account (MCA) - Armenia took place at the RA government on March 13. The bid for the 11th disbursement to be presented to the Millennium Challenge Corporaion (MCC) was approved at the sitting conducted by the Council's chairman, Armenian prime minister Tigran Sargsyan. As NT was informed by the RA Government Information and PR Department, after being ratified by the chairman of the MCA-Armenia Governing Council, the bid will be submitted to MCC for approval. The CEO of MCA-Armenia Ara Hovsepian said that under the 11th disbursement bid, it is envisaged receiving 7 million 993 thousand 939 USD through the payment system of the MCC. The quarterly expenditures will amount to 8 million 128 thousand 289 USD. The funds envisaged by the 11th disbursement bid will be spent on the following components: rural road rehabilitation (about 432 thousand USD), irrigated agriculture (6.8 million USD), monitoring and evaluation, and management and supervision. A. Hovsepian announced that a sum equivalent to 12 million 26 thousand 778 USD was spent so far on the rural road rehabilitation sub-project at the expense of allocations provided by the government. The work under the first package on road construction will continue with the remaining sum. After the government's allocations are completly spent in April-May, it is envisaged submitting an additional bid to MCC to receive financing for further road construction work. The financing under the irrigated agriculture sub-project will be used for contruction of 6 main canals, design of pumping stations and gravity irrigation systems, construction of canals in 4 communities, and design of a drainage system in Ararat Valley. It is also planned to provide 3 million USD to farmers through credit organizations. According to A. Hovsepian, at the end of this quarter, the total amount of actual and forecast (for March) expenses will make 30 million 810 thousand 276 USD.

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