The European Union has pledged to nearly double its promised financial assistance to Armenia aimed at helping the country tackle the coronavirus epidemic and its severe socioeconomic consequences.
The EU said last week that its aid package will be worth 51 million euros ($55 million).
The EU Delegation in Yerevan announced late on Wednesday that the 27-nation bloc has decided to increase the assistance to 92 million euros after “further restructuring” of ongoing projects in Armenia financed by it.
“The funds will be directed towards supplying medical devices and equipment, training for medical and laboratory staff, support to [small and medium-sized enterprises] and business community, as well as social and humanitarian assistance to those affected by the coronavirus outbreak,” it said in a statement.
The statement added that they will be part of the EU’s 20 billion-euro aid program for “partner countries” around the world hit hard by the disease.
The Delegation specified on its Facebook on April 2 that the EU will spend 30 million euros on supporting Armenian businesses by improving their “access to cheap loans, working capital and guarantees.” It also promised to deliver “humanitarian aid packages” to over 3,000 poor families living in three Armenian provinces.
The EU announcements mark the largest coronavirus-related aid allocation secured by Yerevan so far.