NEWS

German Development Bank to allocate €27 mln to support Georgia's energy sector reform

Minister Lasha Khutsishvili and Birgit Holderied-Kreß, director of the KfW Office in Tbilisi, signed the agreement on stabilising the economy by supporting the sector reform earlier today. Photo: ministry of finance

Agenda.ge, 21 Oct 2022 - 14:27, Tbilisi,Georgia

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.

Minister Lasha Khutsishvili and Birgit Holderied-Kreß, director of the KfW Office in Tbilisi, signed the agreement on stabilising the economy by supporting the sector reform earlier today.

With this commitment, authorities of the country will continue strides towards using the full potential of renewable energy, energy efficiency and a market-driven energy market", the ministry announced.

The agreement involves implementation of phase five of the energy sector reform, which, in turn, provides support for sector-specific initiatives planned by the Georgian government.

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