100 Million Euros Earmarked for Armenia Under EU Action Plan

YEREVAN (Armenpress)–The Armenian government discussed primary provisions of the Armenia-EU Action Plan, which envisions a 100 million euro investment in Armenia over the next five years.
Armenia’s Minister of Trade and Economic Development Nerses Yeritsyan told journalists after that the agencies will be provided technical assistance to organize the arrangemen’s.
Yeritsyan noted that 80 percent of the EU-Armenian Action Plan funds would be into the state budget for reform implementation.
Last week the French Ambassador to Armenia’said the European Union will grant 21 million euros to Armenia as part of a cooperation program in 2007.
Serge Smessov said two gran’s would be issued. The first 16 million euros will sponsor projects to improve governance at the administrative level, and the second grant will be allocated as budgetary assistance to the republic’s government.
The diplomat said the TRACECA program would soon be approved for assistance to South Caucasus nations, including Armenia, in energy, transportation and the environment.
The EU-Armenia action plan, part of the Wider Europe Neighborhood program for relations with the EU’s Eastern and Western neighbors, was signed in Brussels November 14, 2006.
The Transport Corridor Europe Caucasus Asia (TRACECA) is a traffic and communication project designed to connect Europe and Central Asia and revive the historic silk road.


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