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European Union releases â‚¬ 3 millions to Azerbaijan

16 September 2010 14:49 (UTC +04:00)

This is the first tranche of an overall support of â‚¬ 14 millions that will be given to Azerbaijan by the EU. These funds will support the Governmentâ€™s endeavours to consolidate its national energy strategy. The objective is to develop a fully coherent, integrated and transparent energy strategy which will cover supply, transportation, transit and use of all energy resources. This Budget Support Programme also focuses on the promotion of energy efficiency and renewable energies in Azerbaijan.

â€œThe strong cooperation the EU and Azerbaijan have established in the energy sector is at the core of our bilateral relationship. Yes this Budget Support Programme is another achievement along this path. Our partnership in the promotion of renewable and energy efficiency is the expression of our commitment to help Azerbaijan diversifying its energy resources and to mitigate the effects of Climate Change. As such, the payment of today is an important milestone for the year 2010 which has been declared the year of ecology in Azerbaijan" said Ambassador Roland Kobia, Head of the EU Delegation.

Budget Support is an instrument utilised by the EU and other donors to assist governments in implementing their key strategies reforms in full ownership. It consists in providing transfer of foreign exchange to the treasury following the realisation of the key objectives of a given reform. Budget Support stimulates the establishment of a policy dialogue between the beneficiary country and the EU.