New EU-Armenia cooperation on private sector development and human rights

Brussels, 11 December 2015. The EU and Armenia signed today Financing Agreements on private sector development (€7 million) and on human rights support (€12 million). The agreements will reinforce the ongoing EU support to both sectors and are part of the overall 2014 bilateral assistance package to Armenia totalling €34 million.

The programme on human rights represents an ambitious undertaking which is meant to support Armenia in tackling key issues related to anti-discrimination, children rights, as well as prevention of torture and gender-based violence. The programme will also support revisions of the electoral code in line with OSCE/ODIHR recommendations, recent developments have shown how important it is to ensure timely progress in this regard.

Private sector development is a central element in the process of speeding up Armenia's economic recovery. The new programme will support the creation and development of small and medium size enterprises (SME) by strengthening the government and the organised private sector in implementing the national policy for SME development, and by facilitating incubation of innovative small businesses.

The EU will continue to assist Armenia on its internal political, social and economic reform processes, based on the future new legal framework for bilateral cooperation and within the larger perspective of the Eastern Partnership.

The agreements were signed on behalf of the European Commission by Deputy Director-General for Neighbourhood and Enlargement Negotiations, Ms Katarina Mathernova and on behalf of Armenia by Minister of Economy Mr Karen Chshmaritian.