On June 20, the Armenian government approved a financing agreement with the European Commission under the "State and Resilience Building Contract for the Republic of Armenia" program. The relevant project was presented by Deputy Prime Minister Mher Grigoryan at a government meeting.
The Deputy Prime Minister noted that the purpose of this project, with a total cost of €15 million, signed in the first quarter of 2024, is to support Armenia's socio-economic resilience. Special attention is given to addressing the priority, medium-term, and long-term issues of people displaced from Nagorno-Karabakh, as well as their long-term socio-economic integration.
Furthermore, the Deputy Prime Minister announced an additional agreement, part of a package of issues not subject to government discussion. Under this agreement, the EU will provide an additional €3 million in support. "This program also aims to assist the government in broader reforms," concluded the Deputy Prime Minister.
Since Armenia's independence, the European Union has been one of the largest donors, funding development programs in Armenia.
In July 2021, it was announced that the EU would allocate €2.6 billion to Armenia over the next five years. The funding aims to implement jointly developed investment and economic projects.
