(ArmInfo) - Today the Millennium Challenge Account-Armenia (MCA-Armenia) has received the second transfer of the initial disbursement to the sum of $507.653, ArmInfo was told in the press-service of the Corporation Armenian Office.
Earlier this month the Millennium Challenge Corporation (MCC), on behalf of the United States Government, made the first transfer of the initial disbursement to Armenia - USD 882,000, reports Trend.
As it was scheduled, the second transfer of USD 507,653 has been made today.
The funds for Armenia's Millennium Challenge Compact expected to total USD 236 million over a five year period are not disbursed as a lump sum to Armenia. They are approved quarterly by the MCC and disbursed monthly into MCA-Armenia's bank account.