16:30, 19 March 2011

Georgia waiting for 150 million from US Agency for Poverty Reduction

The American non-governmental agency to combat poverty named "Millennium Challenge Corporation" (MCC) is considering allocation to Georgia of the second grant package in the amount of 100-150 million US dollars, said Daniel Johannes, executive director of the MCC.

In January 2011, the MCC decided to provide the second chance to Georgia and Ghana to draft their proposals for obtaining grant packages within the framework of the Millennium Challenges Programme. The first five-year assistance programme amounting USD 295.3 million was signed by Georgia and the USA in September 2005. Then, the States gave Georgia additional 100 million; the programme is completed later this year.

Mr Johannes said that the second aid package will go to strengthening the economic growth in Georgia, attraction of private investment and, ultimately, to reduce the need for help, the "News-Georgia" reports.

"The new initiatives of the MCC in those countries who have successfully completed their first packages are aimed at overcoming the obstacles to private investments," the "Gazeta.Ru" quotes Mr Johannes as saying.