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The Millennium Challenge Corporation (MCC) Board of Directors held its quarterly meeting today, the first chaired by U.S. Secretary of State Hillary Rodham Clinton and attended by new Board member Secretary of the Treasury Timothy Geithner, to discuss MCC programs generally and review in detail MCC’s current partnerships with Armenia. Given ongoing concerns about governance issues in Armenia, the Board decided to convene an extraordinary interim review session prior to its June meeting to assess its partnerships with the country, reports the MCC.

As a result of the meeting, the Board reiterated its concerns about the status of democratic governance in Armenia and will not lift the hold on MCC assistance for the rehabilitation of rural roads, while allowing the government of Armenia to fund construction. MCC will continue to provide assistance for irrigation infrastructure, which is well underway and assists Armenian farmers. The Board will review the current hold on funding road activities at a special session prior to the June Board meeting.

The executive director of MCC-Armenia foundation told Panorama.am that MCC managerial board was dated on 13 March to discuss the application of providing 12,12 million USD financial assistance in April-June.