EU to provide grant assistance to Armenia for inclusive and resilient socio-economic development

YEREVAN, OCTOBER 20, ARMENPRESS. The European Union will provide grant assistance worth 23 million Euros to Armenia for inclusive and resilient socio-economic recovery and development, Deputy Prime Minister of Armenia Mher Grigoryan said at the Cabinet meeting, presenting the agreement "EU Resilient Tool for Armenia".

The Deputy PM said that on the sidelines of the first component of the program, assistance will be provided for the creation, development of SMEs and for the recovery of current businesses in Syunik province.

“Under this component, around 1500 micro, small and medium enterprises and individual entrepreneurs will receive grants with the support of capacity development aimed at increasing the productivity of the business and promoting the export to the EU market”, he said.

He said that a targeted assistance will be provided for the business capacity development and financing of business initiatives among women and youth. “Initiatives aimed at the access to agricultural infrastructures, including pastures and restoration of irrigation systems in Syunik province will also be financed”, he said, adding that the initiative to establish a school of cooking and hospitality management and an entrepreneurial center in Gyumri will also be financed.

Assistance will be provided for upgrading social protection system in Armenia, developing capacities of staffers, developing and implementing labor and social protection strategy and single social services, as well as introducing a system of disability assessment and eligibility determination in accordance with the international standards.

“Assistance will also be provided to single social service centers aimed at their technical upgrading. Targeted assistance will be provided to initiatives aimed at the integration and socio-psychological support of persons displaced from Artsakh”, Mher Grigoryan said.