Today, the European Commission has disbursed €34 million to Armenia to help mitigate the impact of Russia’s trade restrictions on the country’s private sector. Just two weeks after President von der Leyen’s call with Prime Minister Pashinyan, the EU is delivering swiftly on its commitments to support Armenia and its people.
This financial assistance is the first tranche of a broader package announced by President von der Leyen, which also includes trade facilitation and solidarity measures to strengthen Armenia’s economic resilience.
Building on the commitments made at the EU-Armenia Summit last month, the EU and Armenia will continue working together to strengthen business ties and expand market access for Armenian producers. Additional support will be provided to sectors affected by the trade restrictions, including agri-food products, flower production and other export-oriented industries, through trade initiatives, business matchmaking events and targeted market access initiatives. The EU-Armenia Task Force on Economic Resilience continues to meet regularly to steer and monitor the implementation of these measures.
Commissioner for Enlargement, Marta Kos, said: “The EU stands firmly with Armenia – a sovereign, democratic and independent country. Today’s support will help address immediate economic challenges while opening new opportunities for Armenian businesses to trade with regional and European markets. This is European solidarity in action”.
On 5 July, Commissioner Kos will travel to Armenia to advance the implementation of the support package and discuss further steps to strengthen EU-Armenia cooperation.
European Union in Armenia