The European Union will support Armenia's participation in regional projects such as the Black Sea Electricity Cable, according to a joint statement signed by European Commission President Ursula von der Leyen and Armenian Prime Minister Nikol Pashinyan on October 5.
Plans for the Black Sea electric cable were first announced in late 2022 and were expected to connect Romania, Georgia and Azerbaijan, bringing electricity from renewable sources to the European Union, via Romania and through Hungary.
"Armenia and the EU are bound by shared political values and their commitment to a rules-based international order. In these difficult times, the EU and Armenia stand shoulder to shoulder."
The statement said the sides are committed to further strengthen EU-Armenia relations.
"As we discussed earlier this week, our immediate focus is to attend to the humanitarian needs of the over 100,000 Karabakh Armenians that have fled to Armenia. We discussed how to ensure maximum effectiveness of the humanitarian aid and other immediate support provided by the EU which will reach 10.45 million euros," the statement went on to say.
"President von der Leyen also announced that the Commission is mobilising funding to allocate 15 million euros from its annual programme for Armenia to be used as budget support. This will allow the government of Armenia to address urgent socio-economic needs and support purchasing food and fuel.
"In the longer run, the European Union and Armenia are determined to reinforce their economic ties, working to bring out the full potential of our Comprehensive Economic Partnership Agreement. In particular, the EU Economic Investment Plan (EIP) for Armenia provides up to 2.6 billion euros to be used for investments in important infrastructure and other projects. The Commission and Armenia will redouble efforts to implement important projects. The Commission will also support Armenia's participation in regional projects such as the Black Sea Electricity Cable. Finally, the Commission will step up technical assistance to Armenia, particularly in the areas of air safety and nuclear safety,” the statement said.
