US Continues Strong Support for Armenia: Collaborative Fact Sheet Highlights Investment and Assistance Efforts
Following the joint EU-US-Armenia High-Level Meeting in Support of Armenia, the US Department of State, the United States Agency for International Development (USAID), and the United States International Development Finance Corporation issued a joint fact sheet, highlighting the comprehensive efforts underway to support Armenia’s progress.
Key among the initiatives is USAID’s commitment of $33 million to support various sectors crucial to Armenia’s development. This includes addressing displacement resulting from recent hostilities, bolstering Armenia's energy sector, stabilizing food security, promoting economic stability and regional integration, and addressing human rights concerns. These initiatives aim to empower reformers, enhance government capacity, and strengthen societal resilience.
The US Department of State is also stepping up its efforts with initiatives focused on democracy and the rule of law, economic growth and resilience, humanitarian assistance, and regional economic integration. Notable projects include institutionalizing anti-corruption reforms, supporting bilateral trade and investment ties, providing humanitarian aid to displaced persons, and facilitating regional trade through infrastructure improvements.
The US International Development Finance Corporation is committing significant resources to support private-sector-led development in Armenia. This includes plans for a $50 million loan to support rural and agricultural sectors and women-owned businesses, building on existing efforts to support small businesses and affordable mortgage lending.