The State Minister of Georgia on European and Euro-Atlantic Integration and Amabassador Philip Dimitrov, who is the Head of the EU Delegation to Georgia signed the financing agreement totaling 27 million EURO for poverty reduction and sustainable socio-economic development in Georgia on December 26.
The program will last five years and will mainly:
"The initiative more for more provided Georgia with the tangible results like this additional 27 million EURO budgetary support that will mainly support the educational sector, Petriashvili said.
Amabassador Philip Dimitrov also welcomed the initiative and said that this financial aid is the appreciation of Georgias achievements.
"It was always heard that Georgians could not compete on the labor market and they dont satisfy the international labor standards. This financing agreement gives people the ability to receive the higher quality education and to be competitive.
Important social groups like young persons, long-term unemployed, self-employed, persons in low-productivity/low paid employment, returning migrants, and internally displaced persons (IDPs) will benefit from the program.
The program is part of the initiative more for more, which rewards additional financial support to those partner countries of the European Union, who made a significance success in the democratic reformation processes.
Out of €27 million, 20 million will be usedas the budget support which will be directed to the State Budget and 7 million euro will be used for the implementation of Technical Assistance projects, and grants.
Funds are provided through the Eastern Partnership Integration and Cooperation Programme (EaPIC) in support of ongoing reforms in the sectors of Employment and Vocational Education and Training (VET), which in turn means the capacity building of the State Agencies (The Ministry of Labour, Health and Social Affairs of Georgia, the Ministry of Education and Science of Georgia) responsible for these policies.