Resilient Syunik Team Europe Initiative launched in Armenia

On 18 January, the Resilient Syunik Team Europe Initiative was launched in Yerevan.

This is a joint undertaking of the European Union, the European Investment Bank (EIB) and the Member States Austria, France, Germany, Poland and Sweden, with Switzerland as an external partner. 

The activity aims to improve the business environment for micro, small and medium-sized enterprises (MSMEs) in the region, enhance private sector competitiveness, improve access to high quality people-centric public services, and boost green regional development.

The initiative has an approximate five-year budget of initially €51 million. It is a flexible mechanism, which can be further expanded and is open for EU Member States to join with new initiatives to promote the development of the Syunik region.

Under Resilient Syunik Team Europe Initiative, EIB Global and the European Union will provide financing and support to construct two rural educational and training centres in Southern Armenia. This investment in the Syunik province is planned to include free after-school educational opportunities and access to missing services for up to 6,000 children and young adults (6 to 18 years of age) from 50 rural communities.

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Press release