EU to provide €92m to Armenia for immediate and short-term needs

EU to provide €92m to Armenia for immediate and short-term needs

PanARMENIAN.Net - The European Union will provide a total of €92 million to Armenia to support immediate and short-term needs, according to a statement provided by the EU delegation to Armenia.

The announcement comes on the heels of another decision by the bloc to help Armenia fight against COVID-19 outbreak.

"The funds will be directed towards supplying medical devices and equipment, training for medical and laboratory staff, support to SMEs and business community, as well as social and humanitarian assistance to those affected by the coronavirus outbreak," the statement reads.

"The EU’s response follows a Team Europe approach. It draws contributions from all EU institutions and combines the resources mobilized by EU Member States and financial institutions, in particular the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). Working together, Team Europe can muster a critical mass that few others can match."

Under the previous plan, the European Union was to provide €51 million to support Armenia in the fight against the Covid-19 outbreak in the country.

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