€90 mln German KfW loan to help Georgia in energy reform
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. Photo: Nino Alavidze/Agenda.ge
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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 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.
The Finance Ministry noted that this funding provides budget support and will be directed to the state budget.
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 Georgian parliament has adopted legislation on energy efficiency and energy efficient construction, bringing the country closer to EU standards. The legislation aims to reduce emissions and pollution, improve the energy efficiency of buildings, as well as to decrease energy imports and bolster the country’s energy security.
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. Georgian Ministry of Finance and French Development Agency signed the agreement today.
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.
Georgia will experience 14% energy savings by 2025 after adopting key energy efficiency laws, the Law on Energy Efficiency and the Law on Energy Performance of Buildings, says the European Bank for Reconstruction and Development (EBRD).
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.
German state development bank KfW will help Georgia implement a 'Biodiversity and Sustainable Local Development - Georgia' project with a new grant of €24 million, announces the Ministry of Finance of Georgia.
A declaration has been signed between the Georgian Economy Ministry and the German Development Bank (KfW) earlier today on the development of clean and renewable energy in Georgia. The study of green hydrogen potential begins in Georgia, the Economy Ministry reports.
The Ministry of Finance of Georgia and the German Development Bank on Tuesday signed a €47 million loan and €1.5 million grant agreement to develop an intelligent transport system and transit corridor in the Georgian capital of Tbilisi, the Ministry of Finance of Georgia said.
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.
Peter Fischer, the German Ambassador to Georgia, on Wednesday inspected projects being implemented in western Georgia through development cooperation between the two countries.
Georgian Finance Minister Lasha Khutsishvili on Friday signed a deal with the German State Development Bank, French Development Agency and the European Delegation to Georgia for a multi-year reform programme called ‘Green Transition for Georgia’.
Paweł Herczyński, the Ambassador of the European Union to Georgia, on Tuesday opened the European Investment Bank conference Green, Inclusive and Growth Finance to discuss promotion of green and inclusive growth in the Georgian micro, small and medium-sized enterprise sector.