News - Ursula von der Leyen: EU will provide €270M in grants to Armenia over the next 4 years

The European Union (EU) will provide 270 million euros in grants to Armenia over the next four years. The President of the European Commission of the EU, Ursula von der Leyen, announced this in Brussels Friday, during the press conference ahead of the EU-US-Armenia tripartite meeting in the Belgian capital city. Last October, the EU promised to stand shoulder to shoulder with Armenia. At the same time, the EU promised to develop a vision for the cooperation; this is what will be discussed. The EU will assist Armenia to be more resilient. The EU will assist small businesses, small and medium-sized enterprises of Armenia to help them develop, enter new markets, she said. According to von der Leyen, the EU will invest in Armenia especially in infrastructure projects, particularly in the Black Sea electric cable project, as well as in the production of renewable energy. Ursula Von der Leyen welcomed the Crossroads of Peace project of the Armenian government, and noted that the EU will also study cross-border transport when conditions allow. The President of the European Commission spoke also about the new assistance package, the European Economic and Investment Plan, for Armenia. It has already mobilized half a billion euros for investments. This is great news and the EU can do more. That's why the EU recently launched the investment coordination platform to be able to identify new projects and speed up implementation, Ursula von der Leyen added.