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European Council approves €45 million in financial assistance for Georgia

13 Apr 2018 - 11:59:00

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Agenda.ge,13 Apr 2018 - 11:59, Tbilisi,Georgia

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.

"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.

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