President of the European Commission Ursula von der Leyen announced the allocation of financial support from the European Union to Armenia in the amount of 270 million euros over the next four years. This statement was made before the trilateral meeting with Prime Minister Nikol Pashinyan and US Secretary of State Antony Blinken in Brussels on April 5th.
Von der Leyen emphasized that the aim of this financial support is to develop the Armenian economy and enhance its resilience. The European Union intends to invest in Armenian businesses, particularly in small and medium-sized enterprises, to enable them to grow and expand their presence in new markets, she explained.
The main areas of investment will include infrastructure projects, including the Black Sea electricity cable project, as well as renewable energy production.
Von der Leyen also expressed support for Armenia in implementing the "Crossroads of the World" project proposed by the country's government and emphasized readiness to assist in carrying out democratic reforms.
The President of the European Commission underscored that a priority is to assist Armenians forcibly displaced from Karabakh. She reminded that the EU has already allocated 30 million euros to support these individuals and declared readiness to provide additional funds for their long-term integration.
