The European Union (EU) on Wednesday, December 23 informed the government of Armenia about the disbursement of additional €24 million in grants to support Armenia’s fight against Covid-19 pandemic.

The EU's 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, the 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.

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.