Time in Yerevan: 11:07:36,   15 August 2022

USAID to make 120 million USD investment in Armenia

USAID to make 120 million USD investment in Armenia

YEREVAN, JUNE 23, ARMENPRESS. The Armenian government approved today the draft on approving the proposal to sign a cooperation grant agreement directed to development between Armenia and the United States.

Chief of Staff at the PM’s Office Arayik Harutyunyan said the purpose of the agreement is to support Armenia in the process of reforms aimed at strengthening democracy and economic stability.

“The total investment of the USAID for achieving these goals comprises 120,000,000 US dollars, which will be provided in parts. The USAID is planning to distribute its investment as follows: 68,565,000 USD for promotion of democracy, 51,435 USD for improvement of economic security”, Arayik Harutyunyan said.

For the promotion of democracy the USAID will provide support to the government of Armenia in the fight against corruption and the reforms in justice and public administration systems. For the improvement of economic security, the USAID will support the public sector to create efficient systems, implement inclusive and economic strategies and discover capital measures for effective investments.

Prime Minister Nikol Pashinyan highlighted this agreement, stating that 120 million USD investment is expected in democracy, economic security, institutional development sectors and fight against corruption.


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