The European Union will provide €2.3 billion to the Eastern Partnership countries, which currently include Armenia, Azerbaijan Moldova, Ukraine and Georgia, according to a joint declaration adopted as a result of the Eastern Partnership Summit in Brussels.
“The new agenda will be underpinned by the EUR 2.3 billion regional economic and investment plan with a potential to mobilise up to EUR 17 billion in public and private investments for the region, which underpins the future agenda,” the statement adopted on Wednesday, December 16.
“This multi-country and multi-sector investment plan is for the benefit of the Eastern Partnership region as a whole. Acknowledging the outstanding challenges, we underscore that sustained reform progress in partner countries, and its monitoring, in close coordination with EU Member States, in particular in the areas of common fundamental values and governance, rule of law, justice sector reform, fight against corruption remain key to reach the objectives of the Eastern Partnership and a successful implementation of its agenda, including the Economic and Investment Plan.”
The EU’s support will reflect its conditionality and incentive-based approach and will be conditional upon the implementation of agreed reforms. This will influence structural reforms, particularly in the rule of law and justice reform and anti-corruption.
The European Union earlier offered Armenia an aid package of 2.6 billion euros over five years.