Economy
Posted: 4 years ago

The European Union stands by its Eastern partners Allocating EUR 140 Million

As part of the global response to the coronavirus outbreak, the European Commission stands by Eastern partner countries and has reallocated €140 million for the most immediate needs in Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova, and Ukraine.

In addition, the Commission will also redirect the use of existing instruments worth up to €700 million to help mitigate the socio-economic impact of the coronavirus crisis.

“These are very difficult times not only for the EU, but for our partner countries as well. We are doing all we can to mitigate the impact of the coronavirus outbreak on human lives and livelihoods.

We are responding both to the immediate needs of the health systems, as well as longer term needs to the most vulnerable groups in society and small and medium-sized enterprises, which are the backbone of the economies in the six countries,”-Commissioner for Neighbourhood and Enlargement Olivér Várhelyi said.