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European Commission to allocate euro 60 mln. to Armenia

European Commission to allocate euro 60 mln. to Armenia

PanARMENIAN.Net - The European Commission has approved new funding for Armenia at the amount of euro 60 mln. in the framework of Eastern Partnership.

The means allocated will be directed to speeding up Armenia’s judicial reforms and economic integration.

Apart from boosting transparency and effectiveness of the country’s judicial system, the funding aims to support Armenian institutions involved in RA-EU talks on signing Association Agreement (including the Deep and Comprehensive Free Trade Area), as well as visa facilitation and Readmission Agreement.

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“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
The funding will go to a subsidiary of ContourGlobal, an international power-generation company that acquired the Vorotan Cascade in 2015.
"We are yet unable to disclose the names of companies we are conducting negotiations with," Satenik Hovhannisyan said.
1,259,657 tourists have arrived in Armenia in January-December 2016, the National Statistical Service said, up by 5,7% on the year before.
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