USAID to invest additional $33 mln in Armenia's economic development – Power
YEREVAN, April 11. /ARKA/. The United States Agency for International Development (USAID) will invest additional $33 million in Armenia's economic development, USAID administrator Samantha Power said in a video posted on X.
According to her, the funds will be used to expand trade turnover between the United States and Armenia, improve Armenia's investment environment, strengthen its export and import capabilities.
Power recalled that investments in the Armenian economy have been doubled since 2022.
She said the assistance includes training women and young people to make them more competitive, working with the Armenian government to adopt new regulations that will improve the investment environment and expand exports and imports. ‘Over the past year, trade turnover between Armenia and the U.S. has increased by 17%," Power said.
According to Armenia’s National Statistical Service, the trade turnover between Armenia and the U.S. in 2023 totaled $670 million, an increase of 45.1% from the previous year. -0-
