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EUROIPEAN UNION FOR ARMENIA

Economy

“EU-Armenia: annual account, 2002” book presentation took place today in Yerevan.

Armenia was given grants and credits of 686 million euro from European governments within the last decade, 57,5 million of which in 2002.

Answering the question put to him about whether the money given is spent in the right way and for intended purposes, the head of European Commission Delegation to Armenia and Georgia Torben Holzen said “yes”. “Although sometimes the means are being spent not so wisely”, he added smiling.

He says, as a rule, money is being rendered to those projects underwent intense scrutiny. After implementation of the projects detailed accounts are being submitted to donor organizations.

European Union, who demands Armenian Nuclear Power Plant closure saying it is already dilapidated, has allocated more than 22 million euro to secure the plant.

European community has already provided 4 million euro to Armenia for development of alternative energy sources.