EU Plans Economic Aid To Armenia

The European Union has announced plans to provide Armenia with economic assistance, RFE/RL's Armenian Service reports.

Article Tools
YEREVAN -- The European Union has announced plans to provide Armenia with economic assistance, RFE/RL's Armenian Service reports.

The European Commission's office in Yerevan said in a statement that the EU's executive branch will ask member countries to approve a loan of 65 million euros (about $97 million) and a grant of 35 million euros to help Armenia deal with its worst economic downturn since the early 1990s.

It said the assistance will support an adjustment program agreed to between Armenia and the International Monetary Fund.

The Armenian government projected a budget deficit of $475 million for 2010 and said it plans to cover at least half of the spending gap with external funds.

The EU statement said the proposed assistance will complement the financial resources provided by the EU through the European Neighborhood and Partnership Instrument.

sponsored by
Sponsored by ClearKitchen.com -- new products for cooking and entertaining.
Related Articles

UN chief mourns death of former Nepalese prime minister

Secretary-General Ban Ki-moon today paid tribute to Nepal's former prime minister and head of the Nepali Congress party Girija Prasad Koirala, calling his death a “huge loss” both for the country and for its peace process, which ended a decade-long civil war.

Tibet: China: Tibetans non violent protests go on. Monks and students Arrested

In Qinghai pro-Dalai Lama leaflets are distributed, the police occupy the nearby monastery and arrest three monks at random. Secondary school students in Gansu praise the Dalai Lama, the police arrest at least 20 young people.
The EU also announced in September that it will provide 33 million euros between 2011 and 2013 to support "institutional reforms" that would allow Armenia to negotiate association and free-trade agreements with the EU.

Armenia is eligible for such deals due to its inclusion in the Eastern Partnership program, which offers six former Soviet republics deeper integration with the EU in return for political and economic reforms.


Copyright (c) RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036.
Add to Newsvine Add to Facebook Add to Digg Add to Twitter Add to DeliciousAdd to PropellerAdd to TechnoratiAdd to StumbleUponAdd to FurlAdd to BlinklistAdd to FarkAdd to Reddit
Global RSS
Comments
Your E-mail Address:

Privacy Statement
 


© Copyright Spero, All rights reserved. RSS
Spero News on Twitter
Spero News on Google Buzz
Submit a tip
Advertise
Terms of use
Privacy Policy
Contact
This page took 0.8047seconds to load