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EU to allocate €100 million to Armenia

Politics Materials 14 July 2011 12:40
The European Union will provide Armenia with 100 million euro to overcome its economic crisis, the EU website said.
EU to allocate €100 million to Armenia

Azerbaijan, Baku, July 14 / Trend /

The European Union will provide Armenia with 100 million euro to overcome its economic crisis, the EU website said.

About 60 million euro will be provided in the form of a loan, and 35 million - in the form of a grant, the website reported.

Assistance from the EU is stipulated by the economic programs agreed between Armenia and the International Monetary Fund, a statement said.

The first tranche of 40 million euros will be provided immediately after the conditions of the package of financial assistance are approved by the Armenian parliament. The rest will be allocated at the end of this year.

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