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Armenia Received $26.3 Million in Grants From EU, 77.7% of Total Funds in 2023

Armenia Receives $26.3 Million in Grants From EU, 77.7% of Total Funds Received in 2023

In 2023, Armenia benefited from grants provided by the European Union (EU), receiving a total of 10 billion 186 million drams, which equals $26.3 million. This information was shared by Deputy Minister of Finance Vahan Sirunyan during the debates on the 2023 state budget performance report at a joint meeting of the National Assembly's Standing Committees on Foreign Relations and on Financial-Credit and Budgetary Affairs.

Deputy Minister Sirunyan explained that these funds came from both individual EU member states and various EU organizations. He detailed that 6 billion 421 million drams were designated as targeted grants, meaning they were intended for specific projects or purposes. The remaining 3 billion 765 million drams were unofficial grants, which are generally more flexible in their use.

"Out of the total grants received from the EU, targeted grants made up 6 billion 421 million drams, and unofficial ones accounted for 3 billion 765 million drams," Sirunyan stated.

In summary, the official grants from the EU constituted about 77.7 percent of the total funds received by Armenia in 2023. These grants play a crucial role in supporting various development and reform projects in the country, contributing to Armenia's economic and social progress.


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