YEREVAN, MAY 31, ARMENPRESS. Armenia will receive 36 million Euro grant from the European Union during 2018 within the frames of the signed agreement, and there is an opportunity to increase that grant by 10 million Euro, Deputy foreign minister Armen Papikyan said at the joint session of the parliamentary standing committees, reports Armenpress.

“In 2017-2020 the European Union will provide Armenia assistance worth 176 million Euro. But Armenia can also receive funding from an umbrella project if it records a major progress in deep, sustainable democracy reforms, with the so-called “more for more” principle”, the deputy FM said.

The official said the 176 million Euro assistance will be directed for the economic development and improvement of market relations, effective governance, energy efficiency and climate change issues, reforms in human rights. “That money includes both budgetary and technical assistance, as well as grant programs in which case the sums are directly provided to the implementing side, the local civil society representatives”, the official added.

According to the data presented by Finance minister Atom Janjughazyan, 43% share of the financial assistance provided by foreign partners in 2017 belonged to the EU.

English –translator/editor: Aneta Harutyunyan