The EU’s proposal refers to priority, flagship programs for economic development in Armenia. Ambassador Andrea Wiktorin, Head of the European Union (EU) Delegation to Armenia, stated this during a press conference Monday dedicated to Europe Day and EU-Armenia relations, referring to the €2.6-billion support pledged by the EU to Armenia.

This is a joint initiative in which the EU has participated in a small way, with grants and loans from European banks, there is also a goal to draw private investments into Armenia, and this is joint work, she added.

According to the EU ambassador, there is considerable progress in terms of small and medium-sized enterprises (SMEs) in Armenia, and credit lines were being offered to the country’s companies.

There are many programs here as well, European Bank for Reconstruction and Development has a credit line opened for Armenian SMEs; to this is also added consultative support; that is, an opportunity to get acquainted with the best practices when creating one's own business, Wiktorin said.

She said one of the important components for her is what they are doing in Syunik Province, as part of their economic investment plan.

There is progress, this is a joint initiative between the Armenian authorities, business community, and EU countries and banks, and not something that the EU pledged and should give, the EU ambassador emphasized.