EU disburses additional €24 million in grants to support Armenia’s fight against COVID-19

Today, the European Union (EU) informed the Government of about the disbursement of additional €24 million in grants to support Armenia’s fight against COVID-19 pandemic. The EU’s decision follows a positive assessment on progress in development of a Mid-Term Recovery Plan (MTRP), macroeconomic stability, public financial management and state budget transparency, in the frame of the COVID-19 Resilience Contract signed between the EU and the Government of Armenia.

As part of the European Union’s € 92 million response package to the COVID-19 pandemic in Armenia, this new disbursement of € 24 million is meant to help Armenia in its fight against the COVID-19 crisis and in strengthening the economic and financial resilience in the country. This EU assistance announced today is an extra support to the recently disbursed Euro 35.6 million of last month and creates additional fiscal space to implement Government healthcare and anti-crisis measures for vulnerable groups and businesses affected by COVID-19.

H.E. Mher Grigoryan, Deputy Prime Minister, said: “We highly appreciate the EU’s support in these difficult times and extend our gratitude for the EU’s constructive and quick response in addition to the last month’s allocation of  € 35.6 million. This new allocation is made within the scope of the budget support program signed between the Government of Armenia and the EU in 2020 to fight the consequences of the COVID-19 pandemic. We firmly believe that it will greatly contribute to Armenia’s recovery from the pandemic, supporting the Government in overcoming the socio-economic hardships resulted by the crisis.”

H.E. Andrea Wiktorin, EU Head of Delegation, said: “The EU and its Member States stand firm in supporting Armenia’s fight against the COVID-19 pandemic, delivering grant assistance to contribute to Armenia’s efforts to health and socio-economic recovery and build resilience. We have already disbursed around Euro 60 million this year in direct grant-based budget support to Armenia to tackle COVID-19 and more is yet to come. Our assistance is expected to help implement important economic reforms, preserve jobs & small businesses and promote inclusive growth in Armenia. The fight against pandemic is definitely not over but we can overcome it only by standing together as one”

The EU’s response follows a Team Europe approach, aimed at saving lives by providing quick and targeted support to our partners to face this pandemic. It combines resources from the EU, its Member States and European financial institutions to support partner countries and address their short-term needs, as well as the longer-term structural impacts on societies and the economy.

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