EU allocates EUR 32mln to Armenia for CIB Program

November 26, 2010 - 16:48 AMT

PanARMENIAN.Net - On November 26, a Memorandum of Understanding and a Framework Document between the EU and the Republic of Armenia was signed on November 26, 2010, which commits both sides to cooperate fully in the efficient and effective implementation of the Comprehensive Institution Building (CIB) Program.

The Memorandum was signed by the Armenian National Coordinator of the CIB Program, Minister of Economy Nerses Yeritsyan and the Head of the EU delegation to Armenia, Raul de Luzenberger on behalf of the European Commission.

EU contribution to Armenia with this program will be EUR 32mln.

Mr. Yeritsyan said that the three principal reform challenges to be addressed through the CIB are: preparing for the negotiations on Association Agreements (AA), negotiating and implementing the AA; supporting to the justice, liberty and security sector; preparing for the negotiation of the Deep and Comprehensive Free Trade Agreements (DCFTA).

The Armenian Minister said that, as a democratic state, Armenia will need to implement reforms to ensure free movement of people, capitals and goods on its way to European integration.

Raul de Luzenberger noted for his part that a new working stage is launched. “Our cooperation is basically aimed at strengthening these structures for preparing for the AA,” he said, adding that it is Armenia’s decision to have a new structure of economy, while the EU can only provide the required assistance.