YEREVAN. June 23 (Interfax) – The United States Agency of International Development (USIAD) will issue a $120 million grant to Armenia to help it promote democracy and economic stability.
The Armenian government has approved the signing of a grant agreement on cooperation with the U.S.
“In light of the shocks caused by the Covid-19 pandemic and the war unleashed against Nagorno-Karabakh, and given the fair and transparent parliamentary elections held [in Armenia] in 2021, the U.S. pledges in this agreement to help Armenia establish a system of efficient and accountable governance, safeguard its democratic achievements and overcome economic challenges,” according to a feasibility evaluation, which was published on the Armenian government’s website following the government’s meeting.
USAID plans to distribute the grant as follows: $68.565 million will be spent on promoting democracy, and $51.435 million will be used to improve economic security.
Disclaimer: This article was contributed and translated into English by Hambardsumian Paul. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2022/06/26/u-s-to-give-120-mln-grant-to-armenia-to-boost-democracy-and-economic-stability/