EU offers Georgia €44.5 million support grant

The European Union (EU) has offered Georgia a support grant worth €44.5 million (101,323,486 GEL) for the development of the Deep and Comprehensive Free Trade Area (DCFTA) and the country's private sector.

The document confirming the deal was signed yesterday by Georgian Prime Minister Irakli Garibashvili and European Commissioner for Neighbourhood Policy and Enlargement Johannes Hahn.

According to PM Garibashvili, the new project would facilitate the development of the private sector and adjust small and medium businesses with the new regulatory environment.

The sector policy support program would also improve the functions of trade and private sector institutions and provide economic integration for returned migrants, businessmen and women and young entrepreneurs.

The agreement was signed during the official visit of Hahn to Georgia. During his time here the European Commissioner will meet Georgian high officials and representatives of the civil sector. The EU official is expected to leave Georgia tomorrow.