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The Netherlands Commits €10 Million in Support for Armenia

The Netherlands Commits €10 Million in Support for Armenia

The Netherlands has pledged a substantial €10 million contribution to aid Armenia through the Global Concessional Financing Facility (GCFF). This initiative aims to assist middle-income nations that receive significant numbers of refugees but traditionally do not qualify for concessional financing from development banks. Armenia, a country that recently welcomed over 100,000 individuals from Artsakh (Nagorno-Karabakh), is a beneficiary of this support.

The influx of civilians from Nagorno-Karabakh into Armenia transpired following Azerbaijan's initiation of offensive operations followed by forced mass exodus against Nagorno-Karabakh on September 19. The war led to the forced displacement of more than 100,000 people, with the overwhelming majority seeking refuge in Armenia. Notably, these displaced individuals constitute approximately 3% of Armenia's entire population.

This sudden surge in population has placed immense strain on Armenia's social services, labor market, and overall economy. The substantial influx has resulted in heightened demands on the country's resources and has incurred significant costs. Recognizing these challenges, the Netherlands has stepped forward to extend a helping hand by contributing €10 million to the Global Concessional Financing Facility.

The Netherlands' generous financial support aims to alleviate the burden faced by Armenia in accommodating and supporting the needs of the forcibly displaced individuals from Nagorno-Karabakh. The funds are intended to bolster Armenia's capacity to manage the socio-economic challenges posed by the refugee influx and to reinforce the country's ability to provide essential services and support to those affected.


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