Ursula von der Leyen: EU plans to allocate 2.5 billion euros to Armenia

The EU plans to allocate 2.5 billion euros to Armenia under the Global Gateway initiative, stated European Commission President Ursula von der Leyen at the first Armenia-EU summit.

"Armenia and the EU are truly closer than ever today. We have made significant progress on visa liberalization for travel between Armenia and the EU, as well as in ensuring investment flows. Already, 2.5 billion euros have been earmarked under the Global Gateway initiative. With this summit, we are entering a new level of cooperation, particularly in the context of connectivity. Armenia provides the shortest route from Europe to Central Asia and the Caspian Sea," von der Leyen said, as reported by Armenian media.

Noting that this route was previously closed due to existing conflicts, the European official acknowledged that the policies of the Armenian authorities are changing this reality. "Thanks to your bold step toward peace and greater integration into the European network. Through this, Armenia can become a regional hub for new trade routes," added the head of the European Commission.

She emphasized that the EU is ready to assist Armenia with physical infrastructure, as these goods and raw materials need to be transported, as well as in promoting the development of energy connections and integrating the republic into European mobile networks.