EU to Provide €24 Million Grant to Armenia for COVID-19 Pandemic Response

The European Union will allocate an additional €24 million grant to the Armenian government to support its response to the COVID-19 pandemic. This information was reported by the Government's website.

The decision was made based on a positive assessment of the progress in developing the "Medium-Term Socio-Economic Recovery Program" within the framework of the "COVID-19 Pandemic Resilience Agreement" signed between the EU and the Armenian government, as well as regarding macroeconomic stability, public financial management, and reforms for transparency in the public budget.

This new allocation of €24 million is part of a total of €92 million in support provided by the EU to Armenia for its efforts against the COVID-19 pandemic, aimed at helping the country address the COVID-19 crisis and strengthening its economic and financial resilience.

The support announced today is in addition to the €35.6 million provided last month, creating additional fiscal space for the government's health and crisis measures aimed at assisting vulnerable groups and businesses affected by the 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 last month’s €35.6 million support. This new allocation has been provided within the framework of the budget support program signed between the Armenian government and the European Union in 2020, aimed at countering the COVID-19 pandemic. We are confident that it will significantly contribute to Armenia's recovery from the pandemic, helping the government overcome the difficulties arising from the crisis,” stated Armenian Deputy Prime Minister Mher Grigoryan.

“The European Union and its member states are decisively supporting Armenia in combating the COVID-19 pandemic by providing grant assistance that contributes to Armenia's efforts towards health and socio-economic recovery and resilience. This year, we have already allocated around €60 million in grant support aimed at mitigating the consequences of COVID-19 through direct budget support, with more expected to follow. Our assistance is anticipated to help implement critical economic reforms, preserve jobs and small businesses, and stimulate inclusive economic growth in Armenia. The fight against the pandemic is certainly not over, but we can only overcome it by being united,” said Andrea Victorin, head of the EU delegation in Armenia.

The EU's response stems from the “Team Europe” approach, which aims to save lives by providing rapid and targeted assistance to our partners in the fight against this pandemic. It combines the resources of the EU, its member states, and European financial bodies to support partner countries and respond to their short-term needs and the long-term structural impacts on society and the economy.