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EU Will Provide 31 Million Euro to Armenia

26-02-2019, 11:56 Armenia » Economy
EU Will Provide 31 Million Euro to Armenia

26 February 2019, 11:56 - NovostiNK
The cabinet has approved the proposal to sign the agreement on funding the EU4Armenia: Territorial Development project with the European Union. According to the minister of economic development and infrastructures Tigran Khachatryan said the EU will provide 31,250,000 euro in the framework of this agreement.

The goal of the project is to enable balanced and inclusive growth through developing smart and sustainable agriculture, innovative tourism and creative industry. The pilot will be launched in the northern regions of Armenia, Shirak, Lori and Tavush, Armenpress reported.

The duration of the agreement is 72 months. Some components will be implemented by GIZ, ADA, EBRD through the Neighborhood Investment Facility. The agreement is funded by the European Union, within the framework of Eastern Partnership.



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