Armenia, USA sign $120 million grant agreement

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29.06.2022, 19:04

Armenian Deputy Prime Minister Mher Grigoryan and USAID/Armenia Mission Director John Allelo signed a five-year development cooperation agreement on Wednesday.

Armenia, USA sign $120 million grant agreement

YEREVAN, June 29. /ARKA/. Armenian Deputy Prime Minister Mher Grigoryan and USAID/Armenia Mission Director John Allelo signed a five-year development cooperation agreement on Wednesday.

Under the agreement between Armenia and USA, approved earlier by the Armenian government for signing, Washington will provide a $120 million grant to Armenia.

The agreement aims to help Armenia implement reforms to strengthen democracy and economic stability.

The USAID plans to distribute the grant as follows: 68 million 565 thousand dollars will be used to promote democracy and 51 million 435 thousand dollars will be used to improve economic security. -0-

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