EU TO ALLOCATE ~@100 MILLION TO ARMENIA

Trend
July 14 2011
Azerbaijan

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.