Commission pledges €100 million in assistance to Armenia

The European Commission adopted the 14 October a draft resolution recommending to the Council to propose €100 million of macro-financial assistance to Armenia. This would take the form of a grant of €35 million and a loan of €65 million. The purpose of the assistance, as agreed by the EU and IMF, is to help the country deal with the effects of the global economic crisis. It is intended to complement financial resources already provided by the EU under the European Neighbourhood Policy and Eastern Partnership initiatives.