Germany allocates €140m for investment projects in Georgia

Georgia’s Finance Minister and Germany's Ambassador to Georgia signed an agreement on financial cooperation. Photo by Georgia's Ministry of Finance., 20 Apr 2016 - 14:40, Tbilisi,Georgia

Germany is offering €140 million financial assistance to Georgia so the country can implement major investments projects in the country.

From this money Georgia will receive €135 million as a loan and €5 million as a grant.

Today Georgia’s Finance Minister and Germany’s Ambassador to Georgia signed a financial cooperation agreement between the two countries.

Using this money projects will be carried out in the following directions: 

  • Supporting the financial sector in Georgia;
  • Safe management of waste climate II;
  • Electricity transmission network expanding program II; and
  • Supplying villages in Georgia’s Adjara region with water and establish a sewage system there.

Georgia’s Finance Minister expressed gratitude for the German government’s support for Georgia and financial assistance to fund important projects in Georgia. He also thanked Germany for its efforts to help Georgia deepen its relations with Europe.