Georgia receives €19 million donation from the EU

The agreement was signed by Georgia's PM Garibahsvili and European Commission President Barroso in Brussels., 21 May 2014 - 19:40, Tbilisi,Georgia

The European Union (EU) will allocate €19 million (45.5 million GEL) to Georgia to assist the country implement the Association Agreement (AA) and help boost further development in the country.

The financial agreement was part of the EU Comprehensive Institutional Building (CIB) program and was signed by Georgian Prime Minister Irakli Gharibashvili and European Commission President Jose Manuel Barroso in Brussels today.

CIB is an EU’s Eastern Partnership (EaP) initiative designed to help partner countries strengthen the capacities of key institutions involved in preparing, negotiating and implementing Association Agreements with the EU, the creation of free trade areas and the management of enhanced mobility opportunities in a secure environment.

Georgia’s budget was defined at €30.86 million within the CIB in 2011-2013.

The next phase of assistance (2014-2020) will be specifically connected to implementation of the Deep and Comprehensive Free Trade Area (DCFTA) Agreement.

PM Garibahsvili welcomed the EU's declared intention to step up financial aid for Georgia at the press conference, which followed his meeting with President Barroso.

The European Commission also announced €30 million of additional funding would be allocated to Georgia, in line with the Eastern Partnership's "more for more" principle, in recognition of Georgia's progress towards deep democracy.