Posted: 4 years ago

Georgia to Borrow 180 million EUR

Georgia plans to borrow 120 million EUR from the Reconstruction Credit Bank of Germany (KfW). Moreover, the European Bank will also allocate a grant component of 2 million EUR.

As part of the German President’s visit to Tbilisi, Finance Minister of Georgia Ivane Machavariani and KfW director for Europe and Asia Stefan Opich will signe loan and grant agreements at Biltmore Tbilisi Hotel.

The loan agreement “Energy Sector Reform – Second Phase” (PBL) – 60 million EUR.

Loan agreement Water Infrastructure in Batumi – 60 million EUR.

Grant Agreement: “Energy Efficiency Measures and Harmonization of Buildings with EU Standards – Second Phase” – 1.8 million EUR.

Today, on October 7, Finance Minister Ivane Machavariani and Ambassador of France in Georgia Diego Kolas and Cecile Copriet, regional director of French Development Agency (AFD) in Easter Europe, Caucasus and Central Asia will sign a loan agreement:

Loan agreement – Energy Sector Reform – Second Phase” (PBL) – 60 million EUR.