German KFW to Allocate 90 Million Euros to Georgia

Georgia will receive €90 million in financial assistance from the German government-owned development bank to help the country’s reforms in the energy sector. 

An agreement with the donor on receiving financial assistance has already been signed.

Georgia will receive the sum under the III Energy Reform Program. Funding is budget support and will be directed to the state budget after the transfer.

The agreement was signed by the Minister of Finance of Georgia, Ivane Machavariani and the head of the South Caucasus Office of the Reconstruction Credit Bank, Klaus Feigl.

The agreement signed with KFW is part of the financial support that Georgia has received from partner international donor organizations to fight the COVID-19 pandemic and further rehabilitate the country's economy.