EU Pledges €270 Million In Grants To Armenia Over Four Years

According to Ursula von der Leyen, president of the European Commission, Armenia would receive grant funding from the EU totaling 270 million euros over a four-year period.

« Over the next four years, we will give Armenia grant support totaling €270 million, » stated von der Leyen at a briefing prior to meetings with American Secretary of State Anthony Blinken and Armenian Prime Minister Nikol Pashinyan in Brussels. « Our meeting today is about Armenia’s development prospects, strengthening its stability, and developing entrepreneurship. »

She claims that the EU will fund air connections, cross-border transportation problems, and Armenia’s nuclear and recovered energy sectors. « The EU package, which has raised 500 million euros, serves as the foundation for this aid. In order to expedite the procedures and improve the effectiveness of the investments, we have also developed a new package, for which we have established a new coordination platform, » she added.

Von Leyen expressed his approval of Armenia’s position in endorsing measures that do not bypass Western sanctions against Russia. The head of the European Commission stated, « This demonstrates that the EU and Armenia are based on common values. »

source: reuters.com

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