Armenia to receive financial assistance from European Union
10.04.2018,
15:20
Armenia will receive financial assistance from the European Union as part of the Comprehensive and Enhanced Partnership Agreement (CEPA), Deputy Foreign Minister Karen Nazaryan said during a parliamentary discussion of the agreement on Tuesday.
YEREVAN, April 10. /ARKA/. Armenia will receive financial assistance from the European Union as part of the Comprehensive and Enhanced Partnership Agreement (CEPA), Deputy Foreign Minister Karen Nazaryan said during a parliamentary discussion of the agreement on Tuesday.
He said as part of CEPA, the EU has already approved the single financial assistance document, which provides for financial assistance to Armenia in the amount of 170-175 million euros for 2017-2020. He said Armenia will be able to receive financial assistance only after the final ratification of the CEPA by all 28 members of the European Union.
The CEPA was signed on November 24, 2017, at the fifth summit of the Eastern Partnership Program in Brussels. It will come into force after all 28 EU member states and Armenia ratify it. The first EU country to have ratified the agreement was Estonia.
Armenia and the EU were supposed to sign the Association Agreement and the Deep and Comprehensive Free Trade Agreement (DCFTA) at a 2013 November Eastern Partnership summit in Vilnius but on September 3 Armenia’s president Serzh Sargsyan announced that the country was going to become part of the Russian-led Customs Union.
In early October 2015 the EU Foreign Affairs Council authorized the European Commission and the High Representative to open negotiations on a new legal basis for relations with Armenia. The new agreement will replace the current agreement on partnership and cooperation between the EU and Armenia.-0-
He said as part of CEPA, the EU has already approved the single financial assistance document, which provides for financial assistance to Armenia in the amount of 170-175 million euros for 2017-2020. He said Armenia will be able to receive financial assistance only after the final ratification of the CEPA by all 28 members of the European Union.
The CEPA was signed on November 24, 2017, at the fifth summit of the Eastern Partnership Program in Brussels. It will come into force after all 28 EU member states and Armenia ratify it. The first EU country to have ratified the agreement was Estonia.
Armenia and the EU were supposed to sign the Association Agreement and the Deep and Comprehensive Free Trade Agreement (DCFTA) at a 2013 November Eastern Partnership summit in Vilnius but on September 3 Armenia’s president Serzh Sargsyan announced that the country was going to become part of the Russian-led Customs Union.
In early October 2015 the EU Foreign Affairs Council authorized the European Commission and the High Representative to open negotiations on a new legal basis for relations with Armenia. The new agreement will replace the current agreement on partnership and cooperation between the EU and Armenia.-0-
