How Will the EU Control the Financial Assistance Given to Armenia? EU-RA Agreement (Reference)
Recently the EU published the "Comprehensive and Enhanced Partnership Agreement Between the European Union and the European Atomic Energy Community and Their Member States, of the One Part, and the Republic of Armenia, of the Other Part" initialized with Armenia, the final signing of which is expected in the near future. "Armedia" IAA presents a series of materials on the most important issues that have become topics of hot discussions.
Later, if necessary, taking into consideration public interests, we will also address those issues that are not included in this series.
The EU-RA Comprehensive and Enhanced Partnership Agreement contains a separate unit that refers to the EU financial assistance to the Republic of Armenia, as well as anti-fraud and control provisions on that assistance. Particularly, Article 343, referring to the financial assistance states: "The Republic of Armenia shall benefit from financial assistance through the relevant funding mechanisms and instruments of the European Union. The Republic of Armenia may also benefit from loans from the European Investment Bank, the European Bank for Reconstruction and Development and other international financial institutions. The financial assistance shall contribute to achieving the objectives of this Agreement and shall be provided in accordance this Chapter."
As for the spheres to get financial assistance, the agreement states that the financial support will be directed to areas laid down in annual action programmes in the framework of the EU-RA cooperation, taking into consideration "the Republic of Armenia's needs, sector capacities and progress with reforms, in particular in areas covered by this Agreement." In addition Armenia can turn to the EU for macro-financial assistance, which will be provided inc case of presence of "the applicable conditions."
What refers to the anti-fraud and control provisions, the agreement defines that to prevent the financial fraud; the EU can conduct "audits, on-the-spot checks, inspections, controls and anti-fraud measures, including those conducted by the European Court of Auditors and the European Anti-Fraud Office (OLAF)."
In this context point 3 of Article 357 reads: "The authorities of the Republic of Armenia shall be notified in good time of the object, purpose and legal basis of the checks and inspections, so that they can provide all the requisite help. To that end, officials of the competent authorities of the Republic of Armenia shall be entitled to participate in the on-the-spot checks and inspections."
The agreements states that in case fraud is revealed "administrative measures and penalties may be imposed on economic operators by the European Commission in accordance with Council Regulation (EC, Euratom) No 2988/95, Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council and Commission Delegated Regulation (EU) No 1268/2012. Additional measures and sanctions complementing those mentioned in the first sentence may be imposed by the authorities of the Republic of Armenia in accordance with the applicable national law.
Finally it is important to state; the agreement also assumes the return of the financial resources provided by the EU. Particularly point 1 of Article 359 of the agreement states: "Where the authorities of the Republic of Armenia are entrusted with the implementation of EU funds, the European Commission is entitled to recover EU funds unduly paid, in particular through financial corrections. The authorities of the Republic of Armenia shall take any appropriate measure to recover EU funds unduly paid. The European Commission shall take into account the measures taken by the authorities of the Republic of Armenia to prevent the loss of the EU funds concerned.
 Council Regulation (EC, Euratom) No 2988/95 of 18 December 1995 on the protection of the European Communities' financial interests( OJ EU L 312, 23.12.1995, p. 1).
 Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council of 25 October 2012 on the financial
 Commission Delegated Regulation (EU) No 1268/2012 of 29 October 2012 on the rules of application of Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council on the financial rules applicable to the general budget of the Union (OJ EU L 362, 31.12.2012, p. 1).
- President of the National Assembly of Artsakh: EU-RA Agreement Will Indirectly Have an Influence on #Artsakh "The Armenia-EU CEPA, which sets new framework for better investment climate, predictability and stability of business environment, liberalisation of services and trade as well as strengthening democracy...
- Armenia’s Agreement with the European Union Does Not Impose Threat for Russia Not only Armenia but also EAEU partner countries will do their best to take maximum advantage of this opportunity.
- Sharmazanov: Armenia Can Serve as a Dialogue Bridge between EU and EAEU "The Comprehensive and Enhanced Partnership agreement between the EU and Armenia will open new opportunities for the EAEU member states so that they will be able to attract economic investments from the...
- Swedish Charge d’ Affaires in Yerevan: New EU-Armenia Agreement Will Provide New Opportunities for Cooperation in Multiple Fields The diplomat is confident that it will be easier for Armenian and Swedish authorities and organizations to learn from each other’s experiences, and for Armenian businesses to take part in the European...
- The EU Is Set for Signing the New Armenia-EU Agreement in November The statement was made with the request of Mediamax.
Trump Hopes to Normalize Relations with Cuba
Edward Nalbandian: We Value NATO's Support to the Efforts of the OSCE Minsk Group Co-Chairs
The Greece Police Prevented Erdogan's Assassination
Weather Forecast in Armenia
Trump Administration to Drop Climate Change from a List of Global Threats in a New NSS
Sahakyan Attended an Exhibition Devoted to the Catholicos of the Great House of Cilicia Garegin I Hovsepyan
Turkey Has Released German Journalist
Mkhitaryan Gives Inter Green Light
Deputy Secretary General of NATO Hopes to See a New Momentum in Resolving the Karabakh Conflict
Turkish ''Besiktas'' Is Interested in Henrikh Mkhitaryan
Iran to Increase Gas Supply to Armenia
Russian Presidential Campaign Officially Launched
The UN Security Council to Vote for a Resolution on Jerusalem
Putin Thanked Trump
Saudi Women Will Aso be Allowed to Drive Trucks, Ride Motorcycles
Joint Consultation Chaired by Artsakh President and Armenian Prime Minister
Russia Chose the Name for the Bridge in the Crimea
Armenian Don Boyajian to Become US Congressman
Egypt Opens Gaza Border for Four Days
MFA Of Armenia: Ankara Is Not Ready To Normalize The Armenian-Turkish Relations
Armenian Patriarch and 12 other Heads of Churches in Jerusalem Wrote a Letter to President Trump
Russians Should Be Driven out Like Dogs, Armenians Must Be Massacred: Azerbaijani "Scientist''
Tigran Mansurian’s "Requiem" Nominated for Grammy Award
Putin Pushed Erdogan’s Chair to the Ground (VIDEO)
It Is Natural to Be in Artsakh and Struggle along with the People of Artsakh: Today Hero Monte Melkonyan Turns 60
Armenia Pays Tribute to the Memory of the Victims of 1988 Spitak Earthquake
TV Channel Discovery Has Shot 6 Videos about Armenia
Statement by the "European Integration" NGO on Signing the Comprehensive and Enhanced Partnership Agreement with the EU
NKR Defense Army Servicemen Gegham Zaqaryan, Sargis Abrahamyan, Sargis Meliqyan, Posthumously Awarded with the "For Service in Battle" Medal
Lebanese-Armenian Independent Researcher: The Crisis in Lebanon Is Not Over (EXCLUSIVE)
Wind: 6.44 km/h