The EU-Armenia European Neighbourhood Policy (ENP) Action Plan provides the political framework for the EU's assistance to Armenia. As a prerequisite of EU support, the Government of Armenia has committed to: • Further improved Public Financial Management (PFM); • Improved public sector transparency and performance; • Greater regulatory convergence with the EU and international laws and standards in the area of trade and in particular, customs, technical barriers to trade (TBT), intellectual property rights (IPR) and sanitary & phyto-sanitary standards (SPS). In this regard, the objective of AETS' assignment was to review the Conditions for Disbursement of the Multi Sector Budget Support (MSBS) Operations of the Annual Action Programme 2010 and Annual Action Programme 2011, respectively MSBS 2010 and MSBS 2011 in the aforementioned areas. The reviews were drawn upon by the European Commission in order to decide upon future tranche disbursement. In addition, the consultants issued recommendations on the direction of policy reforms and on the options for future budget support programmes in Armenia in the areas supported by the programme.