Deputy Prime Minister of Armenia Mher Grigoryan and USAID Mission Director for Armenia John Allelo signed a 5-year Development Objectives Grant Agreement between the Republic of Armenia and the United States of America, under which a $120 million grant assistance will be provided to Armenia.

The agreement is aimed at strengthening democratic values and ensuring economic stability.

Representatives of both USAID and Armenian state institutions were present at the signing ceremony.

“On behalf of the Government and on my personal behalf I would like to thank you for the assistance provided to Armenia, emphasizing that the directions set by the agreement are of great importance for overcoming the economic challenges Armenia faces in this difficult period, as well as for sustainable development and strengthening democracy in the country,” Deputy Prime Minister Mher Grigoryan said.

“I would like to especially thank all our government counterparts who have been instrumental in reviewing this agreement. Your time, feedback, and investment in crafting this document, and making this day a reality, highlights our commitment to shared values and initiatives. The United States remains committed to supporting Armenia on its democratic and economic reforms” Mission Director John Allelo said.

The agreement aims at promoting transparency and accountability in the public administration, strengthening local governance capacity, as well as participatory and inclusive electoral and political processes and the rule of law. The programs to be implemented under the agreement will promote inclusive participation of citizens in governance, facilitate access to independent and diversified sources of information. In order to strengthen economic stability, the programs will aim at increasing the competitiveness of the private sector, strengthening the workforce, and sustainable management of natural resources.