EU to Provide Grant Support to Armenia

The government has approved a draft agreement on financing "The EU Resilience Tool for Armenia" between Armenia and the European Commission during its meeting today.

The justification states that the grant agreement was signed in October, aiming to support green, inclusive, and resilient socio-economic recovery and development in the aftermath of the pandemic and war.

The program is financed from the EU budget, with a total value of €23 million, and does not require co-funding from the Armenian side.

Support will be provided for the incubation and rapid development of SMEs in the Syunik region, recovery of businesses, development initiatives and investments in local communities, activities related to urban and socio-economic infrastructure, as well as the establishment of a "green" culinary and hospitality management school and an entrepreneurial center in Gyumri.

It is noted that assistance will also be extended to experimental targeted programs and initiatives in Syunik, as well as in other border areas, to better respond to the needs of vulnerable groups affected by complex and multifaceted risks.

Furthermore, the support will also focus on enhancing the capacities of social protection system services, mechanisms, and human resources, developing and implementing the Labor and Social Protection Strategy and the Unified Social Services Development Strategy.