European Council approves €45 million in financial assistance for Georgia
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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.
This is the third operation for Georgia since the country's military conflict with Russia in August 2008. The EU's first two macro-financial assistance operations, amounting to €46 million each, were pledged at an international donors' conference in October 2008.
The decision on macro-financial assistance was adopted without discussion at a meeting of the General Affairs Council. It was approved by the European Parliament on 14 March 2018.
Prime Minister of Georgia Giorgi Kvirikashvili thanked the Chairman of the Council of Europe Donald Tusk and the EU Member States for supporting Georgia's development, the country's political course and democratic reforms.
I would like to thank @eucopresident and the #EU member states for supporting #Georgia’s development, the country’s course of action and democratic reforms, as clearly demonstrated by the allocation of 45 million euro.https://t.co/G1QelNKq9J
— Giorgi Kvirikashvili (@KvirikashviliGi) April 13, 2018
"Georgia will irrevocably continue its reforms on the path of European integration and such clear support from our Western partners is definitely invaluable in this process" Kvirikashvili said.
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. 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 signed a memorandum of understanding with Georgia for macro-financial assistance (MFA) of up to €45 million to help Georgia cover part of its external financing needs and support economic reforms.