EU to provide Armenia with 18M euros to diversify trade

The European Commission will soon allocate 18 million euros to Armenia to strengthen and diversify trade.

Report informs that European Commission President Ursula von der Leyen said this in a joint statement with Armenian Prime Minister Nikol Pashinyan in Yerevan.

"Armenia will soon receive an additional 18 million euros to strengthen and diversify trade. In particular, these funds may be directed toward the creation of an Export Promotion Agency, which will help Armenian businesses increase their export potential. This 18 million euros is the final part of the 52 million-euro assistance package we discussed during our phone call in early June," von der Leyen said.

Armenia received the first tranche of 34 million euros in mid-June.

This will bring total financial support to Armenia to 288 million euros.

According to von der Leyen, Armenia still faces significant economic pressure from Russia, which she said could be described as "economic coercion."

"Rest assured: when pressure is put on our partners, the European Union always comes to help," the European Commission president said.

In addition, the EU and Armenia will hold a high-level dialogue in Yerevan by the end of 2026 to jointly review progress in implementing reforms under a multi-sector budget support program for the country.