Azerbaijan, Baku / Trend corr. I.Khlilova / European Commission is ready to render budget assistance to Azerbaijan in energy and state finance management in amount of € 14mln, Askar Alakparov, the head of the Department on Investment Policy at the Ministry of Economic Development of Azerbaijan, said. It was not the first assistance proposed within the framework of the European Neighborhood Policy (ENP).
The first tranche will be allocated in 2008, the second in 2009. Some €3mln will be allocated annually.
According to Alakparov, European Commission has discussed the preliminary conditions and changes in legislation and institutional spheres.
"It is expected to hold reforms in energy sphere, particularly establishment of regulating bodies," Alakparov said.