ArmInfo.Armenia's government approved a draft decree of the RA President approving a grant agreement on development of cooperation between Armenia and the United States.
Washington will grant $120mln to Armenia. The cooperation development agreement is aimed at facilitating reforms in Armenia to strengthen democracy and economic stability.
The USAID plans to allocate $68,565,000 to democratic development, $51,435,000 to economic security.
"In light of the shocks caused by the Covid-19 pandemic and the war unleashed against Nagorno-Karabakh, and given the fair and transparent parliamentary elections held [in Armenia] in 2021, the U.S. pledges in this agreement to help Armenia establish a system of efficient and accountable governance, safeguard its democratic achievements and overcome economic challenges," according to a feasibility evaluation, which was published on the Armenian government's website following the government's meeting.
