European Union set to allocate 20m euros to Armenia

Mediamax news agency
15 Mar 04

YEREVAN

The European Union (EU) will allocate 20m euros to Armenia for the
realization of a national indicative program designed for 2004-06.

The agreement on the realization of this program was signed by
Armenian Minister of Finance and Economy Vardan Khachatryan and the
head of the EU delegation in Armenia and Georgia, Torben Holtze, in
Yerevan today, Mediamax reported.

Torben Holtze said that under the program 13.5m will be directed to
assist the carrying out of institutional and administrative reforms
and 6.5m euros to liquidate the social consequences of the transition
period.

The EU annual aid to Armenia makes 50 to 60m euros.