August 7, 2018 - 12:50 AMT
Millennium Challenge Corporation says can't fund Armenia

Armenia is not eligible for grants provided by the Millennium Challenge Corporation for an unexpected reason, the Voice of American said in a Facebook post.

According to a report issued on July 1 by the World Bank, Armenia is an upper-middle income economy.

The MCC said in a statement that it only supports low-income and lower-middle income countries that have adopted the path of democracy.

It was reported earlier, that U.S. Secretary of State Michael Pompeo has said that the United States is ready to assist Armenia with the MCC process after the Armenian National Committee of America (ANCA) called for a new $140 million Science, Technology, Engineering, Art, and Math (STEAM) grant for Armenia's public schools.