The European Union allocates €46m to Georgia
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Georgia can count on continuing support from the European Union (EU), who this week announced it would allocate €46 million to Georgia as macro-financial assistance in 2015.
European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici signed a Memorandum of Understanding for the multi-million Macro-Financial Assistance (MFA) program to Georgia.
The assistance will be distributed evenly between grants and loans and will be disbursed in two equal tranches in 2015.
"The EU is helping Georgia ease its financing constraints while supporting the government's economic reform agenda. We support Georgia's efforts to maintain macroeconomic stability while implementing growth-enhancing reforms and facilitating closer economic integration with the EU", said Commissioner Moscovici in a press release issued by the Commission yesterday.
The MFA program was intended to strengthen Georgia's balance of payments and budgetary position and to support reforms aimed at reinforcing economic governance, increasing social inclusiveness and promoting closer economic integration with the EU.
The European Union (EU) has allocated €13 million to support Georgia’s economic reform agenda. This is a portion of a €46 million program, which the EU will launch as macro-financial assistance for Georgia in 2015.
The European Union (EU) will grant a new financial package to Georgia if the EU assessment mission prepares a positive report on the country’s progress in May.
The European Commission has proposed up to €45 million new Macro-Financial Assistance (MFA) to Georgia to help it cover part of its external financing needs.
The European Commission has signed a memorandum of understanding with Georgia for macro-financial assistance (MFA) of up to €45 million to help Georgia cover part of its external financing needs and support economic reforms.