US to provide $120 million grant to Armenia
Deputy Prime Minister Mher Grigoryan and USAID Chief of Mission John Allelo signed a five-year cooperation agreement on development cooperation between Armenia and the U.S. under which Armenia will receive a $120 million grant.
The agreement aims to strengthen democratic values and ensure economic stability, the press service of the Armenian government informed Armenian News-NEWS.am.
On behalf of the Armenian government and himself, Grigoryan thanked the U.S. side for its assistance. "The directions defined by the agreement are of great importance for overcoming the economic challenges facing Armenia in this difficult period, stable development and strengthening of democracy in the country," he said.
For his part, Allelo expressed gratitude to all of the government partners who participated in drafting the agreement.
The agreement seeks to promote transparency and accountability in government, strengthen the capacity of local government, and promote participation and inclusiveness in electoral-political processes and the rule of law. The programs to be implemented under the document will promote inclusive citizen participation in the governance process, increasing the availability of independent, diverse sources of information. To enhance economic stability, programs will focus on enhancing private sector competitiveness, strengthening the workforce, and sustainable management of natural resources.
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