European Commission to provide 100 million to Armenia
The European Commission proposed on the 14 of October 2009 to the Council to provide macro-financial assistance to Armenia, in the form of a loan of up to 65 million and of a grant of up to 35 million. The assistance will support the adjustment program agreed by the Armenian government with the International Monetary Fund to help the country through the global crisis.
The Commission adopted on the 14 of October 2009 a draft decision recommending to the Council to provide macro-financial assistance (MFA) in the form of a loan of 65 million and of a grant of 35 million to Armenia. The assistance would be provided in two instalments, tentatively in the first and fourth quarter of 2010. The assistance supports, and is conditional on the respect of the adjustment program agreed between Armenia and the IMF. It complements the latter's financial assistance to the country. The European Parliament is consulted.
The proposed financing will complement the financial resources provided by the EU, in the form of budget support programs financed under the European Neighborhood and Partnership Instrument.
The Commission adopted on the 14 of October 2009 a draft decision recommending to the Council to provide macro-financial assistance (MFA) in the form of a loan of 65 million and of a grant of 35 million to Armenia. The assistance would be provided in two instalments, tentatively in the first and fourth quarter of 2010. The assistance supports, and is conditional on the respect of the adjustment program agreed between Armenia and the IMF. It complements the latter's financial assistance to the country. The European Parliament is consulted.
The proposed financing will complement the financial resources provided by the EU, in the form of budget support programs financed under the European Neighborhood and Partnership Instrument.
