EU says will mobilize €2.6B investment package for Armenia

EU says will mobilize €2.6B investment package for Armenia

July 9, 2021 – 17:54 AMT

PanARMENIAN.Net – The investment package to be made available to Armenia within the Eastern Partnership will reach €2.6 billion, European Commissioner for Neighborhood and Enlargement Olivér Várhelyi said on Friday, July 9 in Yerevan, the Armenian government reveals.

“For Armenia, the plan that we have been working on together with the Government, we are proposing five flagship initiatives. Flagship initiatives meaning key areas of investment, key areas of reform through which we think, in the next four to five years, that the realities on the ground can change significantly for the people of Armenia. Because they will have growth, they will have jobs and they will have a completely different, stronger economy, and more resilient economy,” Várhelyi said.

“Our plan includes therefore transport connectivity, resilience and recovery of the Southern provinces, energy efficiency and renewable energy, the digital transformation and the support for Small and Medium-sized Enterprises. We allocated €1.6 billion for these special flagship initiatives and altogether we are able to mobilize €2.6 billion for Armenia under this plan.

“I think that this plan creates major opportunities for Armenia and I do hope that we can work with the [Acting] Prime Minister [Nikol Pashinyan], and [Acting] Deputy Prime Minister [Mher Grigoryan] very actively to make it happen. We have four years to deliver it, on my side I am ready.”

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