Germany allocates €140m for investment projects in Georgia
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Germany is offering €140 million financial assistance to Georgia so the country can implement major investments projects in the country.
From this money Georgia will receive €135 million as a loan and €5 million as a grant.
Today Georgia’s Finance Minister and Germany’s Ambassador to Georgia signed a financial cooperation agreement between the two countries.
Using this money projects will be carried out in the following directions:
- Supporting the financial sector in Georgia;
- Safe management of waste climate II;
- Electricity transmission network expanding program II; and
- Supplying villages in Georgia’s Adjara region with water and establish a sewage system there.
Georgia’s Finance Minister expressed gratitude for the German government’s support for Georgia and financial assistance to fund important projects in Georgia. He also thanked Germany for its efforts to help Georgia deepen its relations with Europe.
Germany is offering €140 million financial assistance to Georgia to implement major investments projects in the country. From this money Georgia will receive €135 million as a loan and €5 million as a grant.
Germany is offering €156 million (415 million GEL) to Georgia. This deal of financial support was solidified after Georgia’s Finance Ministry signed an agreement with the Federal Ministry for Economic Cooperation and Development.
Germany is offering extra support to Georgia to help strengthen bilateral economic ties and improve the reputation and position of Georgian businesses in Germany.
Germany is offering about €253 million to Georgia for sustainable development. Georgia’s Finance Minister Mamuka Bakhtadze and German Ambassador to Georgia Heike Peitsch signed the financial agreement today.
The German government is allocating €161.7 million to support Georgian investment projects in infrastructural development, energy, municipal development, environmental protection, vocation education and other areas, the Georgian Ministry of Finance reports.