YEREVAN.- The European Commission is in a position to start preparations for a donor conference with Armenia and international financial institutions, head of the European Council said in Yerevan.

During a joint press conference with Armenian President, Herman Van Rompuy said the EU has decided to top up the annual support to Armenia by 50 million euros, a 25% increase of the EU’s financial assistance to the country.

As reported earlier, as EU Commissioner for Enlargement and Neighborhood Policy Stefan Fule’s secretary has said the EU currently postpones holding the donor conference and supporting Armenia with the promised $2 billion. He claimed it was due to the parliamentary elections, which did not justify European expectations and currently Europe will wait for the presidential elections to be held next year in Armenia.

Armenian Deputy FM Zohrab Mnatsakanyan told reporters that it is necessary that the conference had terms, while the terms were not confirmed.

Photo by Sona Barseghyan