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Dimitri Kumsishvili

Dimitri Kumsishvili: EU will Allocate Two Budget Support Tranches to Georgia

Georgia and EU will sign a new agreement on allocation of new budget support tranches in 2018, Minister of Economy and Sustainable Development of Georgia Dimitri Kumsishvili noted.

Namely, 47 million EUR will be allocated for business and economic development promotion, while 50 million EUR will be directed for vocational education and trainings programs (about 50 million EUR).

The first vice Prime Minster made emphasis on new financial instrument – external investments plan of Europe. Georgia will be also able to use this component. As part of the mentioned plan, EU will enlarge its co-participation to 41 billion EUR from 4 billion EUR.

“This instrument will, first of all, share risks of investments that will be made in our country. Moreover, we will have the opportunity to get technical assistance and prepare feasibility studies for the best opportunists and investments that may be implemented in our country. Moreover, we will be able to draw funds from European Investment Bank – 41 billion EUR”, Dimitri Kumsishvili said.