The European Union has unveiled a €2 billion financial assistance package for Azerbaijan as part of an economic investment plan.

Olivér Várhelyi, the EU Commissioner for Neighborhood and Enlargement, made the remarks during a during joint press conference with Azerbaijani Foreign Minister Jeyhun Bayramov on Friday, February 4.

"We have concluded that Europe could mobilize, together with our international financial partners, the European Investment Bank and the EBRD, at least €2 billion of investment in Azerbaijan," the Commissioner said.

The European Union has pledged to provide Armenia with up to €2.6 billion in economic assistance and investments over the next five years.