Ambassador: EU's assistance to Armenia aims to boost post-pandemic socio-economic recovery, create decent jobs and stimulate innovation

YEREVAN, August 22, /ARKA/. In a comment on EU Commissioner Olivér Várhelyi announcement last year that the European Union is able to mobilize nearly 2.6 billion Euros for the key programs in Armenia, the head of the EU Delegation to Armenia, Ambassador Andrea Wiktorin said in an interview with Armenpress that the EU's Economic and Investment Plan, available to all Eastern Partnership countries, aims to leverage private and public investments to boost post-pandemic socio-economic recovery, create decent jobs, stimulate innovation and fast-track the green and digital transition.

She said it needs to be underlined that the EUR 2.6 billion is not an allocated financial package of EU grant funding, but refers instead to the potential of total investments that may be leveraged in the country as part of the Eastern Partnership’s Economic Investment Plan,  endorsed by EU and Eastern Partnership leaders at the Summit in December last year.

'As for all leveraged investments foreseen in the Economic Investment Plan, the bulk of these potential investments would come through loans from IFIs and investments of the private sector.

Currently, we are together with the EBRD and EIB to use other financial instruments like guarantees or blending in order to ensure bigger investments here in Armenia. Now we are very active to develop several flagship initiatives. One is to support SMEs. 

The EU is discussing with the banks how we can help on the infrastructure of the North-South Road Connection. EU and EBRD already supported the feasibility study of this big project. Then we will have additional big programmers in Syunik.

One of them, which is nearly in the final stage of preparation, is to support two COAF centers in Syunik jointly with EIB. We combine this with the EU Team Europe initiative to do more for small and medium sized companies, social-protection and different projects in Syunik.

Another important flagship is Green Yerevan. It was the first contract signed at the end of the year 2021, delivering green buses for Yerevan. We are in the final stage of the procurement of these buses and additionally we are working together in the field of waste management for Yerevan'. -0-