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EU Pledges $3 1 Billion Aid Package to Armenia

YEREVAN (Azatutuyun.am) The European Union pledged on Friday to provide Armenia with up to 2.6 billion euros ($3.1 billion) in economic assistance and investments over the next five years. EU Commissioner for Neighborhood and Enlargement Oliver Varhelyi discussed with Armenian leaders the planned sharp increase in EU aid while visiting Yerevan on the final leg of his tour of the three South Caucasus states. The sum cited by Varhelyi is part of an “economic and investment plan” drafted by the European Commission for six ex-Soviet republics involved in the EU’s Eastern Partnership program. The EU’s executive body said last week that it has asked the bloc’s 27 member states to approve the plan, potentially worth 17 billion euros in “public and private investments,” at an Eastern Partnership summit slated for December.

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