German KfW and French AFD allocate €74mln to support energy reform in Georgia
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The programme’s implementation period will last until 2021. Photo: N. Alavidze/Agenda.ge.
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German KfW and French AFD sign have signed €74 million in loan agreements to support energy sector reform in Georgia, announces the Delegation of the European Union to Georgia.
Georgia’s Finance Minister Ivane Matchavariani and KfW’s Director for Eastern Europe, the Caucasus and Central Asia Olaf Zymelka signed a loan agreement worth €49 million on 2 October for the “Support of Georgia’s Energy Sector Reform”.
On the same day Matchavariani signed a second loan agreement worth €25 million with the French Ambassador in Georgia Pascal Meunier and AFD’s Head of the regional office for the South Caucasus, Gaelle Assayag, with the same purpose.
The EU will allocate a grant contribution of €8.5 million through its Neighbourhood Investment Platform (NIP) to support the scope of this agreement, announced the Delegation of the European Union to Georgia.
The grant will support the establishment of a strategic, institutional and financial vision and framework for energy efficiency in Georgia, especially in the construction sector. It will also promote energy efficiency through a reform programme that moves Georgia from a centralised electricity market to an organised market as envisaged by the EU’s Third Energy Package.
The programme’s implementation period will last until 2021.
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The United States Agency for International Development (USAID) is launching a new three-year energy program in Georgia to support the development of energy market in the country. The $7.5 million energy program aims to contribute to the development of commercial electricity opportunities in Georgia.
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The German Development Bank (KfW) will help the government of Georgia to implement energy reforms, announces the Ministry of Economy of Georgia.
Georgian Finance Minister Ivane Matchavariani has signed a €60 million loan with German Development Bank (KfW) to develop water infrastructure in Batumi and a €120 million loan in total from KfW and French Development Bank (AFD) to develop the country’s energy sector.
Georgian Minister of Finance Ivane Matchavariani has met with Executive Director of the World Bank (WB) Koen Davidse in Washington to discuss economic issues and to further strengthen cooperation between the bank and the country.
Germany will allocate a €170 million loan and a €28.5 million grant to Georgia as part of an agreement signed today between the governments of Georgia and the Federal Republic of Germany.
The United States Agency for International Development (USAID) is launching a new five-year programme in Georgia that aims to build a resilient and diversified energy market in the country, announces USAID.
The German Development Bank will allocate €27 million to support reforms in Georgia’s energy sector reform, the Georgian ministry of finance announced on Friday.