€90 mln German KfW loan to help Georgia in energy reform

Georgia will receive €90 million in financial assistance from the German government-owned development bank to help the country’s reforms in the energy sector. 

• Georgian parliament adopts energy efficiency legislation

Georgian Finance Minister, Ivane Machavariani, and Director of the KfW Representative Office in the South Caucasus, Claus Faigel, signed an agreement earlier today. 

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. 

• Japanese energy company TEPCO invests in Georgian Dariali hydropower project

The Finance Ministry noted that this funding provides budget support and will be directed to the state budget.