ArmInfo. Out of the 2.6 billion euros in aid pledged by the European Union to Armenia, 1.496 billion euros has already been allocated, as stated by Deputy Foreign Minister Vahan Kostanyan at a meeting of the National Assembly Committee on European Integration on March 23.
According to him, a significant portion of these funds is being used for road construction within the North- South Transport Corridor project. Two banks, the European Bank for Reconstruction and Development and the European Investment Bank, have provided funds to commercial banks in Armenia to support small and medium-sized business projects. The Syunik Resilience project, which has received 270 million euros in funding, is currently in progress, with 62.2 million euros already utilized. The necessary documents for the reallocation of 210 million euros have been officially signed.
