EU plans to provide 40-45 million Euro budgetary support to Armenia: EU delegation to Armenia

The European Union plans to provide 40-45 million Euros in budget assistance for Armenia during 2017, Hoa-Binh Adjemian, head of the cooperation department of the EU delegation to Armenia, told reporters on April 7.

“This means we will provide around one million Euros every week to Armenia this year,” he said. He mentioned that budgetary assistance is a tool, due to which as result of work with the government they are able to create good conditions for reforms.

“Firstly we come to an agreement on the goals, after which the EU finances the realization of these goals. The purpose of budgetary assistance is to support reforms, which will provide the best result for Armenian citizens,” he said.

Adjemian also noted that unlike other donor organizations, the EU allocates budgetary assistance to Armenia as gratuitous grants.

“For instance, the World Bank, the European Investment Bank, Asian Development Bank, provide loans, while we provide grants,” he said.