The European Union (EU) will allocate €3.9 billion to help Georgia improve transport and logistics connectivity, announces Georgian Prime Minister Irakli Garibashvili after the meeting with European Commissioner for Neighbourhood and Enlargement Oliver Varhelyi today.
The €3.9 billion aid package consists of a €1.17 billion grant and the rest is a loan.
Varhelyi said that after speaking with Garibashvili 'we have discovered that the main obstacle, the main weakness' in the Georgian economy is the lack of the concept of connectivity.
Be it roads and railways, be it the untapped potential that exists in the Black Sea region, be it connectivity to major electricity and internet networks, all of these aspects have great potential and can move Georgia's economy forward and transform it into a new dimension. That is why we have developed a plan to meet this challenge", Varhelyi said.
Varhelyi announced about 'an ambitious Economic and Investment Plan' for the Eastern Partnership countries in his post on Twitter on July 2:
#EasternPartnership: Today we’re putting forward an ambitious Economic and Investment Plan that will through mobilisation of around €17 billion in investments help stimulate jobs&growth+bring prosperity to the region. The Plan includes country flagships for all Eastern Partners. pic.twitter.com/Z8VTjVUash— Oliver Varhelyi (@OliverVarhelyi) July 2, 2021
Garibashvili thanked Varhelyi for the aid and said that 'we will start working on the projects you have listed related to connectivity, transport, energy, small and medium-sized businesses, and agricultural development starting Monday'.
He posted on Twitter:
Happy to welcome @OliverVarhelyi to #Georgia! Discussed the next steps of the ????????-???????? relations, Black Sea region & the upcoming EaP summit. EU to allocate 3.9 billion EUR to ???????? is yet another proof of ???????? support toward #Georgia & ever so growing strategic partnership.— Irakli Garibashvili (@GharibashviliGe) July 7, 2021
Georgian Minister of Foreign Affairs Davit Zalkaliani thanked Varhelyi for ambitious investment plan in his post on Twitter:
Utterly grateful to t/???????? & @OliverVarhelyi for t/ambitious Investment Plan - a focal practical & political message, accentuating importance of further deepening ????????-???????? coop. T/document is to hugely contribute to ????????'s progress on t/EU-integration path & our country's economic devt.— David Zalkaliani (@DZalkaliani) July 7, 2021