The European Union (EU) announced on Wednesday about the disbursement of additional €24 million in grants to support Armenia’s fight against COVID-19 pandemic. As the EU Delegation to Armenia said in a statement, the 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.

“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,” Deputy Prime Minister Mher Grigoryan has said. 

Andrea Wiktorin, EU Head of Delegation, in turn, said in part: “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”

According to the source, 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.