EU pledges investments to make Armenia stronger

PanARMENIAN.Net - Ahead of the Armenia-EU-U.S. trilateral meeting to be held in Brussels on April 5, European Commission President Ursula von der Leyen said that the EU has made a promise to “stand shoulder to shoulder with Armenia and today the bloc is fulfilling that promise”.

“We will make investments to make the economy and society of Armenia stronger and more resilient to shocks,” said the head of the European Commission, announcing a grant of 270 million euros over 4 years that is designed to help small and medium-sized companies.

According to von der Leyen, the EU will invest in Armenia, first of all, in infrastructure projects, in particular the Black Sea Submarine Cable Project, as well as in the production of renewable energy.

Von der Leyen welcomed the Armenian government's projects dubbed the Crossroads of Peace, and noted that the EU will also explore cross-border transportation when conditions allow.

The President of the European Commission also weighed in on a new support package, as well as the European economic and investment program for Armenia.

“This program has already mobilized half a billion euros for investment. This is great news and we can do more. That’s why we recently launched an investment coordination platform so that we can identify new projects and speed up implementation,” von der Leyen said.

Ursula von der Leyen added that the EU has not fogotten the plight of the forcibly displaced Armenians of Nagorno-Karabakh.

“The humanitarian situation of refugees in Armenia remains a priority. We have provided more than thirty million euros and are ready to do more,” von der Leyen said, expressing satisfaction that they can also count on the United States as a loyal and like-minded partner in said efforts.

“We will continue to work together for the future of Armenia in a stable and prosperous region of the South Caucasus,” concluded the President of the European Commission.