EU bank offers €50 mln to support procurement of Covid-19 vaccines, medical equipment
In 2020 alone, the EIB Group provided €210 million in loans and guarantees to support the resilience of Georgia’s healthcare system, and speed up recovery of the national economy from the Covid-19 pandemic. Photo: Nino Alavidze/Agenda.ge.
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The European Investment Bank has allocated €50 million to the government of Georgia for the procurement of vaccines against Covid-19 through the COVAX facility, as well as other medical equipment essential for the treatment of Covid-19 patients, announces the EU Delegation to Georgia.
In 2020 alone, the EIB Group provided €210 million in loans and guarantees to support the resilience of Georgia’s healthcare system, and speed up recovery of the national economy from the Covid-19 pandemic.
This support package from the EU Bank includes:
- €100 million invested to reinforce the resilience of Georgian healthcare sector
- €110 million provided to the Georgian financial institutions for lending to local SMEs
The support for the faster recovery of Georgian economy includes additional €250 million extended as guarantees by the European Investment Fund, a part of the EIB Group.
The EIB support the Georgian healthcare sector extended in 2020 allowed modernisation of five key hospitals and clinics across the country, procurement of modern medical equipment, and allowed local financial institutions to create new credit lines for local companies to address liquidity issues, sustain jobs, and finance their investments or expansion plans.