YEREVAN. Dec 13 (Interfax) - The Armenian government will invest $2.5 billion in the development program for the country's Armed Forces, acting Prime Minister Nikol Pashinyan said at a government meeting on Thursday.
"The government has set the goal of modernizing the defense industry. This objective fits the logic of transforming Armenia into a high-tech and engineering country," Pashinyan said.
The task of boosting the combat preparedness of the Armenian Armed Forces has also been set, he said.
"We need to invest $2.5 billion in the army's development over the next five years," he said.
The participants in the government session also endorsed the signing of an agreement with the European Commission on providing 37 million euros worth of financial assistance to Armenia.
Economic Development and Investments Minister Tigran Khachatryan said that the European Commission will give Armenia 7.5 million euros as part of their technical cooperation program, another 6.5 million euros to fund nuclear safety measures and the fulfilment of stress-test proposals, and also 23 million euros as part of cooperation in innovations and efforts to update the country's education system.