Germany offers €140 million to Georgia
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Germany is offering €140 million financial assistance to Georgia to implement major investments projects in the country.
From this money Georgia will receive €135 million as a loan and €5 million as a grant.
Georgia’s Prime Minister Giorgi Kvirikashvili said the money would be spent on projects to develop the energy and agricultural sector and improve municipal infrastructure.
At the same time our priority directions such as education, small and medium-sized businesses, metrology, environment protection and local governance will also be financed,” said Kvirikashvili.
Meanwhile the World Bank’s board of executive directors approved a $40 million USD loan to the International Bank for Reconstruction and Development (IBRD) for the Georgia - National Innovation Ecosystem Project.
The project aimed to increase innovative activities of firms and individuals in Georgia and their participation in the digital economy. This means that innovative centres will be opened in Georgia’s towns and villages where the population will learn various professions,” said the Prime Minister.
Within the Georgia - National Innovation Ecosystem Project, regional areas will receive grants to finance innovative and high-technological businesses, announced Kvirikashvili.
Germany is offering €156 million (415 million GEL) to Georgia. This deal of financial support was solidified after Georgia’s Finance Ministry signed an agreement with the Federal Ministry for Economic Cooperation and Development.
Germany is offering extra support to Georgia to help strengthen bilateral economic ties and improve the reputation and position of Georgian businesses in Germany.
"There is no reason to expect that the European Commission experts’ report on Georgia will not be positive," says German Foreign Minister Frank-Walter Steinmeier about the upcoming report that will determine whether or not Georgians will enjoy visa free travel to countries in the Schengen zone.
A multi-million dollar loan from an international bank will help residents and businesses in Georgia’s rural areas improve their professional skills and promote innovation, while additional aid will support road asset management through better road maintenance.
Germany is offering €140 million financial assistance to Georgia so the country can implement major investments projects in the country.
Georgia is trying to increase the innovative activities of firms and individuals and their participation in the digital economy by developing the National Innovation Ecosystem (GENIE).
The government of Federal Republic of Germany will offer €10 million to Georgia to improve the living conditions of internally displaced people in Georgia.