The Armenian Minister of Economy, Nerses Yeritsyan, the US ambassador to Armenia, Mary Yovanovich, and the head of the USAID office in Yerevan, Jatinder Cheema, signed two agreements on cooperation this Friday. Armenia will receive $53 million in 2010-2013. The finances will be spent on economic development, realization of social reforms and reformation of healthcare, News Armenia reports.
The agreements include development of a competitive and individualised private sector and increasing the numbers of competitive small and medium-scale businesses. The sectors aimed at are innovations, increasing the availability of financial resources, development of the labor market and the cooperation of the state and private sectors.
USAID will assist in improving the quality of social and medical services by improving the financing of these sectors.
According to the minister of economy, the ties between Armenia and the USA keep improving. Mary Yovanovich noted that the documents are aimed at strengthening cooperation between the two countries.
