EU allocates €410 million for Georgia to implement AA

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 EU financial assistance will be worth €410 million (1 billion GEL) and the funds will be spent on implementing the EU-Georgia Association Agreement (AA).

This news was voiced by European Commissioner Johannes Hahn, who is in charge of European Neighbourhood Policy and Enlargement Negotiations, in Luxembourg where Georgia’s Foreign Minister Tamar Beruchashvili met EU high officials today.

"The EU has already allocated this money for Georgia and we hope that we will get an opportunity to spend it as intended,” Hahn said.

He added a portion of this financial package would be used to boost micro and small business entrepreneurship in Georgia from now until 2017. He believed this would help Georgia implement the Deep and Comprehensive Free Trade Area, which was the part of the AA.

The final decision regarding the financial package will be made at the upcoming Riga Eastern Partnership Summit scheduled in May.

Meanwhile today’s meeting was attended by EU High Representative for Foreign Affairs and Security Policy Federica Mogherini, EU states’ foreign ministers and foreign ministers from Eastern Partnership countries.

The EU officials said they recognised all of Georgia’s efforts, which would adequately be reflected in Riga in May.

Thanks @MiroslavLajcak 4 arranging #EU meeting w our colleague #Beruchashvili. We must support #Georgia, while it faces creeping annexation

— Linas Linkevicius (@LinkeviciusL) April 20, 2015

After the meeting, Lithuanian Foreign Minister Linas Linkevicius tweeted: "We must support Georgia, while it faces creeping annexation.”