German Development Bank to allocate €27 mln to support Georgia's energy sector reform
Minister Lasha Khutsishvili and Birgit Holderied-Kreß, director of the KfW Office in Tbilisi, signed the agreement on stabilising the economy by supporting the sector reform earlier today. Photo: ministry of finance
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The German Development Bank will allocate €27 million to support reforms in Georgia’s energy sector reform, the Georgian ministry of finance announced on Friday.
Minister Lasha Khutsishvili and Birgit Holderied-Kreß, director of the KfW Office in Tbilisi, signed the agreement on stabilising the economy by supporting the sector reform earlier today.
With this commitment, authorities of the country will continue strides towards using the full potential of renewable energy, energy efficiency and a market-driven energy market", the ministry announced.
The agreement involves implementation of phase five of the energy sector reform, which, in turn, provides support for sector-specific initiatives planned by the Georgian government.
The agreement with KfW is part of the financial support that the Georgian government has attracted from its international partners to contain the spread of the coronavirus and help restore the Georgian economy.
The German Development Bank (KfW) will help the government of Georgia to implement energy reforms, announces the Ministry of Economy of Georgia.
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German KfW and French AFD sign have signed €74 million in loan agreements to support energy sector reform in Georgia, announces the Delegation of the European Union to Georgia.
The Government of Georgia, a German government-owned development bank KFW and the French Development Agency (AFD) are signing a declaration on launching reforms for developing the energy market in Georgia and improve energy efficiency in the country.
Georgian economy minister Levan Davitashvili on Wednesday highlighted the potential of the renewable energy sector of the country’s economy at an international conference hosted in Tbilisi, where he said attracting investments in the area was a “main priority” for the government.
Current and planned projects supported by the World Bank in Georgia were discussed on Tuesday in a meeting between the Georgian finance minister Lasha Khutsishvili and officials of the institution.
Georgian Deputy Economy Minister Romeo Mikautadze on Thursday highlighted the responsibility of the public to use energy resources “more wisely” at a school event for raising awareness of energy-saving practices.