The Cabinet made a decision to set up the Millennium Challenge Fund Moldova (MCF – Moldova) as a public institution and approved its status and the nominal composition of its Supervisory Board, Info-Prim Neo reports. MCF – Moldova will deal with the implementation of the Compact signed by Moldova and the Millennium Challenge Corporation and will supervise, monitor and assess the program in the name of the Government. It will have the power to make decisions, sign documents with the contractors and consultancy service providers, work contracts with the employees and to open accounts in financial institutions. The major objective of MCF – Moldova is to help the Government implement the grant agreement for the Compact and other accords that will be signed with financial institutions and backers that could provide co-financing for this program. Under the Compact signed on January 22, 2010, the Millennium Challenge Corporation will provide US$262 million to Moldova to rehabilitate the roads and ensure the switchover to modern agriculture by developing the irrigation system. The Fund’s Supervisory Board consists of nine members. Five of them represent the Government, while four the private sector and the civil society. Under the Government’s decision, the Supervisory Board includes: Prime Minister Vlad Filat, chairman of the Board, Minister of State Victor Bodiu, vice chairman, Minister of Finance Veaceslav Negruta, Minister of Transport and Road Infrastructure Anatol Salaru, Minister of the Environment Gheorghe Salaru. The private sector and the civil society will be represented by Dinu Armasu, executive director of the Foreign Investors Association, Valeriu Prohnitski, director of the analytical center Expert - Grup, Sergiu Neicovchen, executive director of the National Center of Assistance and Information for NGOs Contact, and Andrei Isac, executive director of the Regional Environmental Center (REC Moldova). These four members of the Board will work for a term of up to one year.