EU Allocates Additional €24 Million Grant to Armenia for COVID-19 Response

The European Union has announced that it will allocate an additional €24 million grant to Armenia to support the fight against the COVID-19 pandemic. This information was provided to Armenpress by the EU office in Armenia.

The decision was made based on a positive assessment of the progress in the development of the "Medium-term Socio-Economic Recovery Program" as part of the "Agreement on COVID-19 Pandemic Response" signed between the EU and the Armenian government, as well as on macroeconomic stability, public finance management, and transparency reforms in the state budget.

This new allocation of €24 million is part of a €92 million support package provided by the EU to assist Armenia in combating the COVID-19 crisis and strengthening the country's economic and financial resilience.

This support announced today is in addition to the €35.6 million assistance provided last month, opening up additional fiscal space for the Government to implement health and crisis response measures aimed at supporting vulnerable groups and businesses affected by the COVID-19 pandemic.

“We greatly appreciate the European Union's support during these challenging times and express our gratitude for the EU's constructive and prompt response, in addition to the €35.6 million support provided last month. This new allocation has been provided under the budget support program signed between the Government of Armenia and the European Union in 2020, aimed at responding to the COVID-19 pandemic. We are confident that it will significantly contribute to Armenia's recovery from the pandemic, helping the Government to overcome the challenges posed by the crisis,” said Armenian Deputy Prime Minister Mher Grigoryan.

“The European Union and EU member states are firmly supporting Armenia in its fight against the COVID-19 pandemic by providing grant support to bolster Armenia's efforts in health and socio-economic recovery and resilience. This year, we have already allocated approximately €60 million in grants in the form of direct budget support for mitigating the consequences of COVID-19, and more is expected. Our assistance is anticipated to help implement crucial economic reforms, preserve jobs and small enterprises, and promote inclusive economic growth in Armenia. The fight against the pandemic is certainly not over, but we can only overcome it by being united,” stated Andrea Victorin, head of the EU Delegation to Armenia.

The EU's response stems from the "Team Europe" approach, which aims to save lives by providing swift and targeted support to our partners for pandemic response. It combines the resources of the EU, its member states, and European financial institutions to support partner countries, as well as to address their short-term needs and the long-term structural impacts on society and the economy.