Georgia to receive macro-financial assistance to limit economic fallout of coronavirus
For Georgia, the policy conditions for its €150 million MFA programme relate to strengthening public finance management, improving governance, sector reforms, and labour market policies. Photo: Nino Alavidz/Agenda.ge.
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The European Commission, on behalf of the EU, has agreed on a memoranda of understanding on macro-financial assistance (MFA) programmes with eight partners, including Georgia.
The agreements are part of a €3 billion MFA package for 10 enlargement and neighbourhood partners, aimed to help them limit the economic fallout of the coronavirus pandemic, announces the Delegation of the EU to Georgia.
The eight countries are Albania, Georgia, Jordan, Kosovo, Moldova, Montenegro, North Macedonia and Ukraine.
For Georgia, the policy conditions for its €150 million MFA programme relate to strengthening public finance management, improving governance, sector reforms, and labour market policies.
Georgian President Salome Zurabishvili has welcomed EU leaders’ agreement on a post-coronavirus recovery package, involving €750bn (£677bn; $859bn) in grants and loans to counter the impact of the pandemic in the 27-member bloc.
The EU has announced three new projects to help victims of domestic violence, IDPs, and persons with disabilities across Georgia cope with the Covid-19 crisis, the EU representation in Georgia stated earlier today.
Georgia will receive €150 million in macro-financial assistance from the European Council to help the country ‘cope with the economic fallout’ of the COVID-19 pandemic. Georgia is among the ten enlargement and neighbourhood partners of the European Union which will receive the assistance ‘in the form of loans on highly favourable terms’.
The European Commission has adopted a proposal for a COVID-19 support package for Georgia comprised of €150 million to help the country limit the economic fallout of the coronavirus pandemic.
The European Union has allocated €100 mln to support Georgia amid the coronavirus pandemic.
The Asian Development Bank (ADB) has approved a $2.5 million grant to support Georgia’s ongoing response to the coronavirus pandemic.