European Commission wants control on fundingOctober 6, 2011 - 14:34 AMT PanARMENIAN.Net - The European Commission wants to be able to suspend parts of the next multibillion euro (dollar) funding program for poorer regions if too much money is lost through bad economic policy or insufficient oversight. In a carrot-and-stick approach, the European Union's executive announced Thursday, October 6, that its proposals to spend euro336 billion over seven years also will include financial rewards for projects that stick closest to their commitments. The proposals will now be taken up by the 27 member states, and the new multibillion euro (dollar) program should kick in by 2014, The Associated Press reported. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |