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Georgia to Attract 45 million EUR Financial Resource from EU

European Union will render financial assistance to Georgia. The 45-million EUR package will be spent on implementing the reforms. Besides political support, EU continues Georgia’s financial assistance, Deputy Finance Minister Nikoloz Gagua said.

Objective of this financial aid is to further strengthen Georgia’s economic steadiness to external risks, foster a development of inclusive economy. The ongoing successful program with IMF and Georgia’s achievements as part of this program have become an additional ground for approving the mentioned EU aid program. 

This microfinance aid will enable Georgia to implement reforms in such important fields as: management of public finances, finance sector, social and labor market policy, business environment. Successful implementation of these reforms will ensure economic growth that will reach each citizens of Georgia”, Nikoloz Gagua said. 

The 45-million EUR financial aid comprises 35 million EUR preferential loan and 10 million EUR grant.
Georgia will receive the mentioned sum in two portions.