NEWS

PM Garibashvili: 'We have decided not to take the second part of the EU loan, as we have started reducing foreign debt'

Georgian Prime Minister Irakli Garibashvili has announced that the government has decided not to take the second tranche of an EU loan as 'we are trying to reduce foreign debt'. Photo: PM's press office.

Agenda.ge, 31 Aug 2021 - 12:01, Tbilisi,Georgia

Georgian Prime Minister Irakli Garibashvili has announced that the government has decided not to take the second tranche of an EU loan as 'we are trying to reduce foreign debt'.

We took part of the loan in 2020. The second part of the €75 million euro loan was not a grant and assistance, but a loan. Given that we started reducing our foreign debt this year, it is highly likely that we will no longer need to receive this amount. We are grateful for all the help the EU has given us during the pandemic and in general for everything they are doing for us", said Garibashvili.

In 2020 the EU disbursed a €60 million grant as part of its €75 million Covid-19 Resilience Contract for Georgia to assist in the implementation of the government’s Anti-Crisis Economic Plan.

EU disburses €60 million grant for Covid-19 assistance to Georgia

The overall aim of EU financial support was to help citizens and businesses of Georgia recover from the impact of the pandemic.

The payment followed the EU’s transfer of €100 million in loans for macro-financial assistance on November 25, 2020. Both payments were part of the wider 1.5 billion GEL EU support package for Georgia, which also covered support to the health and social sector and economic recovery.

EU bank offers €50 mln to support procurement of Covid-19 vaccines, medical equipment

17 Jun 2021

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.

EU provides 1.5 bln GEL support to Georgia during pandemic

13 Dec 2020

The European Union has mobilised 1.5 billion GEL to support Georgia during the COVID-19 pandemic since March 2020. This is ‘one of the highest levels of EU assistance per capita to any country in the world and demonstrates the EU’s strong solidarity with Georgia at this time of unprecedented crisis’.

EU allocates €100 mln to support Georgia amid pandemic

25 Nov 2020

The European Union has allocated €100 mln to support Georgia amid the coronavirus pandemic.

EU and Georgia sign for €129 million COVID-19 recovery agreements

29 Sep 2020

European Union Commissioner for Neighbourhood and Enlargement Olivér Várhelyi and Prime Minister of Georgia, Giorgi Gakharia, have signed two agreements worth €129 million today in Brussels to assist Georgia in coping with the COVID-19 outbreak and its impact on the country's economy.

Opposition claims gov’t refused EU loan become of ‘upcoming sanctions’

31 Aug 2021

The United National Movement (UNM) and the European Georgia opposition party leaders say that the Georgian government has refused to take the second part of the EU’s €75 million euro loan because the EU was likely to impose sanctions against Georgia for the ruling Georgian Dream (GD) party’s withdrawal from the April 2021 EU-mediated agreement.

EU ‘respects’ Georgian gov’t decision not to take EU loan, but notes Georgia may not have been eligible

01 Sep 2021

The EU delegation to Georgia has responded to the Georgian government’s recent refusal to take the second tranche of the EU’s 150 million euro loan, stating that they ‘respect’ the decision, but noting that the country has been unable to completely fulfil preconditions that would have been needed to receive the second instalment.

PM Garibashvil on links between EU loan and judiciary reforms: we’ve carried out fundamental reforms, are committed to continue them

01 Sep 2021

Georgian Prime Minister Irakli Garibashvili has responded to recent statements of local and foreign politicians on the connection between EU financial aid and judicial reforms in the country. Garibashvili said that the Georgian Dream government has already carried out ‘fundamental reforms’ in the judiciary and remains committed to the tenets of the April 2021 EU-mediated agreement to proceed with court reforms.

Georgian FM on EU loan: adding new debt amid economic growth would be unjustified

01 Sep 2021

Georgian Foreign Minister David Zalkaliani has stated that taking the 75 million euro EU loan by the Georgian government would be unjustified when the state economy has increased by 12 per cent over the past six-seven months.

President Zurabishvili says ‘unclear’ why gov’t refused to take EU loan

02 Sep 2021

Georgian President Salome Zurabishvili has stated it is unclear for her and the public why the Georgian Dream government has refused to take the second tranche of the EU’s 150 million euro loan which should have been addressed to decrease 'the social and human damage that COVID has done to our population'.

PM vows gov’t will explain president why it refused to take EU loan

03 Sep 2021

Georgian Prime Minister Irakli Garibashvili has stated that Georgian President Salome Zurabishvili ‘seems not to be well-informed’ about the EU loan and that is why she criticized the government yesterday for its refusal to take the second tranche of the EU’s 150 million euro loan.