EU to raise aid to Armenia by 25 percent: Rompuy

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Economy

04.07.2012, 19:59

The European Union intends to increase the amount of financial assistance d to Armenia by 25% raising it up to 15 million euros, European Council president Herman Van Rompuy said today during a joint press conference with Armenian president Serzh Sargsyan in Yerevan.

EU to raise aid to Armenia by 25 percent: Rompuy

YEREVAN, July 4. /ARKA/. The European Union intends to increase the amount of financial assistance d to Armenia by 25% raising it up to 15 million euros, European Council president Herman Van Rompuy said today during a joint press conference with Armenian president Serzh Sargsyan in Yerevan.

"These funds will be used to implement major reforms to support Armenia’s integration with Europe" Rompuy said.

He said Armenia is on the right track, but much remains to be done in the future. According to Rompuy, the EU stands ready to assist Armenia in the promotion of shared values.

The president of the European Council also said the EU appreciates Armenia’s efforts to comply with European norms and standards.

"We urge Armenia to continue its way to strengthen democratic institutions, eliminate corruption, improve respect for human rights and freedom of speech" said Rompuy.-0-

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