U.S. offers US$3.1m to Moldova for small-scale activities to be carried out before signature of Compact Program

Prime Minister Vald Filat and Vice President of the Millennium Challenge Corporation Darius Teter signed an agreement concerning the provision of a grant of US$3.1 million to Moldova by the U.S. Government, Info-Prim Neo reports, quoting the Moldovan Government's press service. The money will be used to finance a limited number of activities that will be carried our before the signing of the Compact Program. These include the contracting of the financial agent and procurement consultants and the creation a unit that will deal with the implementation of the Compact Program – the Millennium Challenge Fund Moldova. A competent team of negotiators is to be formed shortly to discuss with the Millennium Challenge Corporation with a view to signing the Compact Agreement by the end of this year. The Millennium Challenge Corporation was set up by U.S. Congress in 2004 to offer support to low income countries and stimulate economic growth. Among the CIS countries that received full Compact assistance from the Corporation are Georgia ($295 million) and Armenia ($235 million). Ukraine is also eligible for full assistance but hasn't received it yet. The Corporation's Board decided to offer $262 million to Moldova for the implementation of its Compact program.