EU allocates €20 mln to finance economic reforms in Georgia
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The loan was provided under the first instalment of its new Macro-Financial Assistance programme. Photo: N. Alavidze/Agenda.ge.
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The European Commission has disbursed €15 million in loans to help Georgia cover part of its financing needs and support the implementation of economic reforms.
The loan was provided under the first instalment of its new Macro-Financial Assistance (MFA) programme.
The grant component of €5 million will be disbursed in the coming days, bringing the total amount of this instalment to €20 million”, read the press release published by the EU Delegation to Georgia.
Georgia's new MFA programme is worth up to €45 million in total.
The European Parliament and the Council approved the new programme in April 2018.
The European Union (EU) and the European Investment Bank (EIB) are starting a new project with a total budget of €6,136,000 to contribute to Georgia’s road infrastructure development.
The European Union, Sweden and Austria are teaming up to develop mountain tourism and organic agriculture in Georgia’s Zemo Svaneti, Racha-Lechkhumi and Kvemo Svaneti, and Imereti mountainous regions with a budget of €6.8 million.
The Administrative Council of the Council of Europe Development Bank (CEB) has approved eleven loans worth almost €1.1 billion yesterday for Georgia and other European countries.
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are stepping up their efforts to support small and medium-sized enterprises (SMEs) in Georgia, Ukraine and Moldova.
The European Union has transferred 110 million GEL(about $ 41.28m/€36.8m) to the government of Georgia in acknowledgement of government reforms conducted in 2017 and 2018.
Georgian Minister of Economy and Sustainable Development Giorgi Kobulia has met with European Investment Bank (EIB) Vice President Vazil Hudak and other officials today to discuss the EIB’s invest portal in Georgia and key priorities of future cooperation.