Yerevan, December 7. ArmInfo. The children of Armenia Fund (COAF) and the "Center for Agrobusiness and Rural Development" signed today a Memorandum of Understanding, according to which a cooperative on milk realization and collection will be created in Armavir region's Lernagog village.

During the signing ceremony, coordinator of the Programme on assistance to Armenia and Georgia of the USA Agricultural Department Sean Carmody emphasized that he imparts great importance to enhancement of the life level of Armenia's rural residents. He assured that the USA State Department will keep on financing and today's Memorandum will become a pledge of closer cooperation between COAF and CARD. He said that the center in Lernagog has become the 36th point on milk collection. Eighteen cooperatives on milk realization have also been created.

As Director of the CARD Gagik Sardaryan said, the profit from the realized milk is an important source of cash receipt for the village residents. Total of $27,000 have been allocated for the new project in Lernagog. CARD and COAF shared the project financing. "We establish relations with both milk producers and the processing industry and find markets", Sardaryan said and added that most part of products is realized in the inner market, while the export falls mainly on Russia and the USA.