The President of the European Commission, Ursula von der Leyen, highlighted the benefits of the economic and investment plan launched in Armenia in 2021, which has already attracted over 550 million euros of investment into the country through grants, private, and public investments.
She made this statement following a meeting with Prime Minister Nikol Pashinyan and US Secretary of State Antony Blinken in Brussels on April 5.
"According to the Economic and Investment Plan, the EU's Stability and Growth Program will increase support for strategic investments, especially in transportation infrastructure, digital technologies, and energy, as well as invest in business development to support job creation and economic growth.
The Economic and Investment Plan has the potential to bring economic benefits through peace, including regional connectivity, when conditions permit. The EU will also consider ways to support mobility," said Ursula von der Leyen's statement.
BMG reported that ahead of the same meeting, the European Union announced support for Armenia in the amount of 270 million euros over the next four years. The European Union intends to invest in Armenian businesses, especially small and medium-sized enterprises, to enable them to develop and expand their presence in new markets.
The main areas of investment will be infrastructure projects, including the Black Sea electricity cable project, as well as renewable energy production.
