The European Union will provide an additional €140 million in financial support to Armenia to promote reforms and deepen bilateral cooperation, EU Commissioner for Enlargement Marta Kos said in Yerevan during a joint press conference with Deputy Prime Minister Mher Grigoryan.

Marta Kos noted that Armenia is a reliable partner for the European Union in the South Caucasus, emphasizing the region’s growing significance amid global geopolitical tensions.

“This is an important year for Armenia. In May, Armenia will host the European Political Community Summit, followed by the first-ever EU-Armenia Summit. This demonstrates how much the importance of this region has increased for Europe and how deeply our partnership has developed,” she said.

According to the Commissioner, in recent years there has been significant growth in freight transport passing through the South Caucasus, which has quadrupled since 2022.

She noted that, thanks to infrastructure investments, it is possible to increase these figures even further by reducing transport times and costs.

Kos also emphasized that EU support is not limited to economic cooperation—it is also seen as a tool for promoting peace.

She welcomed the steps taken by Armenia and Azerbaijan toward peace, highlighting the importance of developing regional connectivity.

According to the Commissioner, under the “Resilience and Growth” program, the EU has already supported around 7,000 enterprises and contributed to the creation of more than 20,000 jobs.

“Projects are also being implemented in the fields of education, social services, and housing, and support is being provided for the integration of persons displaced from Nagorno-Karabakh, amounting to over €70 million,” Kos emphasized.

According to Marta Kos, the new €140 million in support is also aimed at reforms necessary to advance the visa liberalization process.

“These funds will contribute to the reforms needed to make progress in the visa liberalization process,” she said.

Kos also addressed democratic processes, emphasizing that the EU is ready to support Armenia in countering hybrid threats and disinformation, ensuring the conduct of free and fair elections.