ArmInfo. Within the framework of Team Europe, the European Union (EU) assists in the development of a medium-term recovery program for Armenia.
''We, Team Europe, welcome and stand ready to support the RA Government efforts to lead, prepare a Mid-Term Recovery Plan MTRP in an open, consultative process engaging all stakeholders i.e. private sector, civil society, academia, local authorities in response to the ongoing COVID-19 crisis'', the EU statement reads.
Several Team Europe initiatives are jointly carried out by the EU and its Member States, notably in the mobilization of Emergency Medical Teams (EMT) & supplies with EU Civil Protection Mechanism support. Such humanitarian missions allow to share expertise, help those most in need of medical care and strengthen the Armenian health system resilience. Together with European and regional IFIs, Team Europe is also preparing affordable schemes to support micro-businesses, SMEs in accessing credit and guarantees to boost business & jobs after the crisis.
The statement reads that COVID-19 outbreak has evolved into a global pandemic. It has killed over half a million people, strained communities, increased calls for social protection, shrunk business activity and disrupted supply chains. Its consequences will be profound in the European Union EU, in the countries of the Eastern Partnership and all around the globe. Armenia is particularly vulnerable as a landlocked country yet with an open economy that mostly relies on tourism, agriculture, trade and remittances. This historic crisis requires a fast, massive and coordinated global response to protect all people, save lives and tackle the economic fallout. In such context, the Armenian authorities, the private sector, civil society and ordinary Armenians are responding with extraordinary levels of resilience, responsiveness and creativity. To note, the European Union provided 92 million euros to Armenia to address urgent and short-term needs, as well as to help implement medium-term programs to rebuild the country in the humanitarian, health, social and economic areas. The EU provides assistance to partner countries in the fight against the coronavirus pandemic and its consequences through the Team Europe program. The goal of Team Europe's approach is to combine the resources of the EU, its member countries and financial institutions, in particular the European Investment Bank and the European Bank for Reconstruction and Development, etc. Financing the whole Team Europe package reaches more than 20 billion euros.