European Parliament approves €45 million in financial aid to Georgia
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The European Parliament has endorsed a European Commission's proposal to provide further macro-financial assistance worth of €45 million to help Georgia cover part of its external financing needs for the period of 2017-2020.
Head of the Georgia-EU Association Committee Sajad Karim wrote on his Twitter that the €45 million financial assistance comprises of both medium-term loans (€35 million) and grants (€10 million).
Press release on today's @Europarl_EN vote on providing further macro-financial assistance to #Georgiapic.twitter.com/mFbhVSZj0Q
— Sajjad Karim MEP (@SHKMEP) March 14, 2018
The European Parliament approved the €45 million in macro-financial assistance with 570 votes in favour and 108 against.
Georgian Prime Minister Giorgi Kvirikashvili hosted European parliament members at the government administration today. Welcoming the Georgian reforms, the MEPs expressed their unanimous support towards the country’s progress on its path to Euro-integration.
Georgia is successfully delivering on its reform commitments taken within the Association Agreement (AA) signed with the European Union (EU). This is the conclusion of yesterday’s discussion at the European Parliament's Committee on International Trade, which reviewed the implementation process of the AA signed with Georgia, Moldova and Ukraine.
The European Parliament proposes new ways to intensify EU relations with Georgia, Ukraine and Moldova ahead of the Eastern Partnership Summit on 24 November. A new parliament report is calling to deepen the trio’s collaboration with the EU further and find new ways to support the countries on the EU’s eastern borders.
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 Union is allocating 11.8 million GEL to fund eight new projects in Georgia in order to support civil society and human rights in the country.
The Council of the European Union is providing up to €45 million in macro-financial assistance to Georgia to help cover the country’s financing needs, support economic stabilisation and its agenda for structural reforms.