US $ 4.8 million to increase financial assistance to Armenia for implementation of effective management program
US $ 4.8 million to increase Armenia's financial assistance for implementation effective management programs. At its meeting on September 5, the Armenian government approved the 8th amendment to the Armenian-American agreement on the development of more effective participation and accountable governance.
According to the Minister of Finance of the Republic of Armenia Atom Dzhandzhugazyan, according to this agreement between the governments of the Republic of Armenia and the USA, signed in 2013, it was envisaged that the American side would provide Armenia financial assistance in the amount of $ 37 million. However, as a result of negotiations, this amount will be increased by $ 4.8 million.
In turn, the Minister of Economy of the Republic of Armenia Tigran Khachatryan said to Prime Minister Nikol Pashinyan that the funds will be used to support private business and develop infrastructures, in particular, in rural areas. Moreover, the choice of terrain and Financing areas are determined by the United States Agency for International Development (USAID), which selects program contractors based on tenders. This, in particular, may be about the repair or construction of water supply systems, irrigation systems, etc. These programs, according to Tigran Khachatryan, are in line with the government's medium- term spending program.