EU investments in Armenia could climb to €2.5 billion under the Global Gateway strategy - joint statement

YEREVAN, July 14. /ARKA/. Under the Global Gateway strategy, EU investments in Armenia are expected to climb to €2.5 billion, which will contribute to inclusive growth and the development of ties, according to a joint statement following a trilateral meeting between Armenian Prime Minister Nikol Pashinyan, European Council President António Costa, and European Commission President Ursula von der Leyen in Brussels today.

“The EU has confirmed its strong commitment to supporting Armenia's sustainability and long-term development through substantial financial and technical assistance,” the statement said, the text of which was provided by the Armenian government's press service.

The document notes that the EU's €270 million plan to enhance sustainability and growth, announced in April 2024, increased EU funding to Armenia by 50%.

“By allocating €200 million in grant aid and €70 million in grant financing to attract investment, the EU continues to support Armenia's socio-economic reform program, closer sectoral cooperation, and investment in energy, transport, and the private sector,” the joint press release said.

Addressing a number of security challenges, including information manipulation and external interference, disinformation, and cyber threats, the EU offered to work with Armenia to assess its needs, identify priority areas for cooperation, and utilize the tools available to the EU.

“In order to support Armenia's information ecosystem, the EU announced a new package of €1.5 million to strengthen independent media,” the statement said.-0-