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Germany to Allocate 252.7 million EUR to Georgia

As part of consultations with Government of Germany in autumn 2017, we have agreed to cooperate in the priority directions that will ensure further development of Georgia, Minister of Finance Mamuka Bakhtadze after signature of agreement on financial cooperation.

Minister of Finance Mamuka Bakhtade expressed gratitude to German Ambassador for the support that Government of Germany provides for financing important projects in Georgia and for deepening relations with Europe. 

The parties discussed future cooperation details and ongoing projects in infrastructure and energy sectors and planned measures for improving energy efficiency.

“Germany is our friendly country and one of the key partners. Today we signed an agreement and Georgia will receive additional 252.7 million EUR (230 million EUR loan and 22.7 million EUR grant). The mentioned sum will be mainly spent on infrastructure development, education sector, namely, vocational education system development, building democratic institutes, energy and environment projects. I would like to thank Government of Germany and two German financial institutions – KfW and GIZ, which will ensure employment of the mentioned financial resource”, Mamuka Bakhtadze said.
The signing ceremony was attended by Klaus Viegel, director for KfW Tbilisi Office and Roland Sturer, director for GIZ.