U.S. to provide $50mln aid to Armenia until 2013

July 15, 2010 - 16:43 AMT

PanARMENIAN.Net - On July 15, the Armenian government approved signing of an agreement with the U.S. government on provision of assistance under the Program of Competitive and Diversified Private Sector.

Armenian Minister of Economy Nerses Yeritsyan said that a $7.7mln grant will be allocated to Armenia to implement works in three directions: development of the private sector, assistance to the financial sector and improvement of infrastructures.

The program will be implemented through the assistance of USAID. It will be completed by September 30, 2013.

Meanwhile, the Minister added that the program may be expanded before its completion, while the total amount of investments may reach $30mln.

Besides, Yeritsyan said that the two countries’ governments will cooperate also in the healthcare field. Specifically, the Armenian and U.S. governments will sign an agreement on provision of assistance under Enhancement of Services Efficiency in Healthcare and Social Fields.

Under the program, Armenia will receive $3mln. The program may also be expanded before its completion (September 30, 2013), while the total amount of financing may reach $20mln.