YEREVAN (Armenpress)–The preparation round of the Armenian program of the Millennium Challenges Foundation is coming to an end.
Deputy Minister of finance and economy David Avetisian announced that US representative of the corporation Alex Rassin has arrived in Armenia and will be the permanent resident representative of the foundation.
Meanwhile–the administrative council of the program has formed a short list of candidates for the directorial position and has presented it to the Millennium Challenges Corporation.
Avetisian said that according to the initial assessmen’s the first disbursement of the promised funds will be coming in August. Until then–a state non-profit organization should be established that will deal with the administration of the program.
He also informed that the foundation had some objections connected with the legislation on forming state and non-profit organizations in Armenia. After the sides agree to the changed option the final legislature will be approved by the Armenian president. It is expected that until August the office of the organization is created and the first funds will be directed towards its projecting and furnishing.