The memorandum on relationships was signed between Armenia and EU. According to the memorandum the EU will allocate 100 mn EUR of financial assistance to Armenia. The information is disseminated by EU Press Office. Probably 65 mn will be allocated as a credit and 35 mn as a grant. Some conditions are stipulated for these programs which are to be fulfilled by Armenia for getting the support. For instance, the measures are to be taken in the state debts control area. The reform of pensions system have to be implemented; the internal financial control establishment over the budget expenditure and so on.
The first part of the support, 40 mn, will be sent after the ratification of memorandum by Armenian Parliament. The second part will be donated probably in September.
To be noted, the global crisis seriously affected the Armenia's economy. The GDP in 2009 decreased for 14,2%. In 2010 the situation slightly improved.
