French Development Agency supporting energy reforms, fight against COVID-19 with €190 mln in Georgia
€70 million will be allocated for the fight against COVID-19, while €120 million will be offered for energy reforms in Georgia. Photo: Nino Alavidze/Agenda.ge.
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The French Development Agency will allocate €190 million to Georgia to contain the spread of the coronavirus and support energy reforms in the country, announces the Finance Ministry of Georgia.
In particular:
- €70 million will be allocated for the fight against COVID-19
- €120 million will be offered for energy reforms in Georgia
Georgian Ministry of Finance and French Development Agency signed the agreement today.
This funding is budget support and will be directed to the state budget, said the ministry.
The agreement signed today is part of wider financial support the Georgian government has received from partner international donor organisations to fight the COVID-19 pandemic and restore the country's economy.
The Asian Infrastructure Investment Bank (AIIB) is offering €91,340,000 to help Georgia prevent and respond to threats caused by the coronavirus pandemic, announces the Finance Ministry of Georgia. The loan agreement was signed today under the 'Emergency COVID-19 Response Project' for Georgia.
The International Bank for Reconstruction and Development (IBRD), the lending arm of the World Bank Group, has approved €73.1 million under the 'Emergency COVID-19 Response Project' for Georgia. The project aims to help the government’s efforts to mitigate and address the health and social impacts of the COVID-19 pandemic.
UNDP Head in Georgia Louisa Vinton says Georgia’s response to the pandemic has undoubtedly saved lives and it will be studied in the future as a best practice. "But here, as everywhere in the world, COVID-19 has also exposed social vulnerabilities and economic imbalances. The UNDP therefore welcomes the resolve of Georgia’s leaders to go beyond ‘business as usual’ to design a recovery plan that builds on the positives and neutralizes the negatives to map out a path to a green, fair and inclusive future”, said Vinton.
The European Union and the United Nations Development Programme (UNDP) have launched a GEL 9 million grant programme together with the Georgian Agriculture and Rural Development Agency (ARDA) to help Georgia’s rural regions respond to the economic and social challenges amid the coronavirus crisis.
The Asian Development Bank (ADB) has approved a $100 million loan to help Georgia contain the spread of the coronavirus pandemic, mitigate the impact on businesses, and protect the livelihoods of the most vulnerable, including women and children.
The agreement with KfW is part of the financial support that the Georgian government has attracted from its international partners to contain the spread of the coronavirus and help restore the Georgian economy.
A memorandum has been signed today between the UNDP, Sweden and the Georgian Ministry of Health to support Georgia’s efforts to strengthen its medical governance and improve health services for people amid the coronavirus.
The Asian Development Bank (ADB) approved a $200 million policy-based loan today to support Georgia’s recovery from the coronavirus disease pandemic by launching a fiscal resilience and social protection support programme aiming to ensure macroeconomic stability in the medium to long term while continuing to protect the livelihoods of those most affected by the crisis.