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Azerbaijan approves mechanism of spending European Neighborhood Policy budget

Azerbaijan approves mechanism of spending European Neighborhood Policy budget

14 October 2009 15:34 (UTC +04:00)

Baku. Rashad Suleymanov - APA-ECONOMICS. Azerbaijan’s Cabinet of Ministers has approved the "Mechanism of using funds to be transferred to Azerbaijan’s state budget by the European Commission for programmes undertaken as part of the European Neighborhood Policy."

The document includes the rules and conditions for disbursement, reporting and supervising.

According to the document, the amount to be transferred to the state budget of Azerbaijan is determined by the financing agreements signed between the Government of Azerbaijan and the European Commission.

According to the rules, the Ministry of Economic Development shall prepare a quarterly review of the reports received from the beneficiary organizations, and submit them to the State Commission on Azerbaijan’s European Integration.

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