YEREVAN. – Information that the European Union (EU) is suspending its funding to Armenia is untrue, Economy Minister Tigran Davtyan told Armenian News-NEWS.am.  

“The European Union not only has not suspended the allocation of financial means to Armenia, but rather it has enlarged it,” said Davtyan.   

The Minister informed that the EU will provide an additional €15-million grant to Armenia. And this amount is allocated for conducting a successful policy during preparation phase for the Deep and Comprehensive Free Trade Agreement with the EU.      

Tigran Davtyan noted that this amount will be allocated to the State Budget, whereby the specified costs will be funded. 

“The funding is carried out on the principle of ‘more for more,’ [that is,] money for additional results. They evaluated that we have done more than we were obligated to do,” stated Tigran Davtyan.