Finance Ministry signs for 180 million euros in loans with KfW, AFD to develop water, energy sectors
Loans of €60 million from KfW and €60 million from the AFD will be used to develop the energy sector of Georgia. Photo: Ministry of Finance.
Tweet 
Share
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.
The €60 million loan will be used to improve the water supply system in Georgia’s coastal city of Batumi and promote tourism development.
The German side has allocated an additional €1.8 million grant for the energy sector to a grant of €5.7 million which was given by the KfW on June 14, 2019.
The project will provide for the reconstruction of 25 kindergartens per energy efficiency standards in Batumi and the reconstruction of one historic building which will be selected on the basis of negotiations of KfW and Batumi City Hall.
KfW and AFD are ready to support the Government of Georgia to carry out reforms in the energy sector. Photo: Ministry of Finance.
Loans of €60 million from KfW and €60 million from the AFD will be used to develop the energy sector of Georgia.
With this project, KfW and AFD are ready to support the Government of Georgia to carry out reforms in the energy sector, which will strengthen the country's energy independence and develop its energy capacities.
In 2018, loans for energy sector was received from KfW (€49 million) and AFD (25 million), while Georgia received €8.33 million grant from the European Union.
The German Development Bank (KfW) will help the government of Georgia to implement energy reforms, announces the Ministry of Economy of Georgia.
The international consultancy company McKinsey&Company is helping Georgia create an energy development strategy, Georgia’s Ministry of Economy has announced.
/energy-reform.jpg)
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.
The Government of Georgia, a German government-owned development bank KFW and the French Development Agency (AFD) are signing a declaration on launching reforms for developing the energy market in Georgia and improve energy efficiency in the country.
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.
The German government is allocating €161.7 million to support Georgian investment projects in infrastructural development, energy, municipal development, environmental protection, vocation education and other areas, the Georgian Ministry of Finance reports.
Georgia will receive €35 million from the French Development Agency (AFD) to support social welfare reforms, announced the Ministry of Finance today.
About 202 million GEL ($66.12m/€58.37) will be spent on 67 water and sewerage infrastructure projects throughout Georgia in 2020 that will benefit about 779,625 people, announces the United Water Supply Company of Georgia.
Prime Minister of Georgia Giorgi Gakharia has revealed plans to provide round-the-clock water supply to 300,000 citizens lacking proper water infrastructure across the country, with the governmental effort set to bring the supply to them by the end of the year.
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.
Germany is giving Georgia €310 million in aid to help the country fight COVID-19 as well as to implement different regional projects, announces the Ministry of Finance of Georgia.
The French Development Agency (AFD) has approved a grant of €300,000 under its technical expertise and experience exchange (FEXTE) fund to support the newly established National Agency for Sustainable Land Management and Land Use Monitoring of Georgia to promote the development of modern agriculture.