ArmInfo.EU financial assistance to Armenia in the amount of 2.6 billion euros includes not only grant funds, but also loans. EU Special Representative for the South Caucasus Toivo Klaar stated this in an interview with the First TV Channel of Armenia.
"This is a set of various financial instruments, which are provided by various donor institutions. They should jointly agree on priorities and further areas of cooperation. In fact, a lot of work is being done. We need to focus on that," he said. In this context, the EU Special Representative added that everything possible must be done so that the programs within the framework of EU financial assistance are implemented as soon as possible.
At the same time, Klaar drew attention to the fact that relations between Armenia and the EU are developing in the right direction. Moreover, as the EU representative pointed out, new areas of cooperation are also being considered.
On his part, close cooperation was also indicated within the framework of the European Union-Armenia Comprehensive and Enhanced Partnership Agreement (CEPA). Klaar noted that bilateral relations have numerous opportunities, including untapped ones. "I think we have done a good job of realizing the potential and interaction, but there are opportunities for development," he added.
At the same time, Toivo Klaar expressed hope that as long as the European Union can contribute to establishing peace and prosperity in the region, it will be able to do more. "There is still space for the development of our relations. We are committed to this," he said.
In July 2021, it became known about the intention of the EU to provide Armenia with financial assistance in the amount of 2.6 billion euros. In particular, EU Commissioner for Neighbourhood and Enlargement Oliver Varhelyi noted that 1.6 billion euros out of a total package of 2.6 billion provided for Armenia will be directed to the implementation of 5 program areas: strengthening democracy, promoting the economy, developing small and medium business, energy, infrastructure, etc. The European Commissioner also announced the EU's readiness to assist in overcoming regional challenges, achieving connectivity and economic integration.