EU to Provide 92 Million Euros to Armenia for COVID-19-Related Efforts

The European Union will allocate 92 million euros to Armenia
The European Union will allocate 92 million euros to Armenia

The European Union will allocate 92 million euros to Armenia

The European Union will provide an overall assistance package of 92 million euros to Armenia, upping the original 51 million euros it had announced last week.

The EU delegation in Armenia explained that the funds will be directed toward supplying medical devices and equipment, training for medical and laboratory staff, support to small- and medium-sized businesses, as well as social and humanitarian assistance to those affected by the coronavirus outbreak.

“Further to our announcement last week on the support of the European Union to Armenia to fight against COVID-19 outbreak and after further restructuring of the existing programs with the Armenian government, we are proud to announce that the EU will provide overall 92 million euros to Armenia to support immediate and short-term needs,” said the EU delegation to Armenia.

The EU’s response follows a “Team Europe” approach, explained the announcement. “It draws contributions from all EU institutions and combines the resources mobilized by EU Member States and financial institutions, in particular the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). Working together, Team Europe can muster a critical mass that few others can match.’’

On a related matter, an agreement on financial cooperation was signed between Germany and Armenia, the German Embassy in Armenia said in a Facebook post. It said the agreement stipulates cooperation programs foreseen for the period after 2018.

“Grants, technical assistance and loans at preferential rates, the total amount of which exceeds 91 million euros, are provided to Armenia. Among them are programs aimed at protecting biodiversity or stimulating renewable energy,” the embassy said.

Based on the safety rules, prompted by COVID-19, the German Ambassador to Armenia Michael Banzhaf and Armenian Minister of Finance Atom Janjughazyan signed the document separately.

“This event indicates that Armenian-German cooperation continues to expand and deepen even in such difficult times,” the embassy said.


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