Germany Allocate €161,7 million to Support Georgian Investment Projects

Today Governmental consultations on development cooperation between Georgia and Germany held at the Ministry of Finance.

The Ministry said that after the consultations Deputy Finance Minister of Georgia Nikoloz Gagua and Karin Jahr de Guerrero, Head of Eastern Europe and South Caucasus Division of the Federal Ministry for Economic Cooperation and Development, signed the agreement on financial cooperation.

According to the Ministry, the Federal Republic of Germany continues to support investment projects in municipal infrastructure, energy efficiency, environmental protection, vocation education and other areas in Georgia.

For the implementation of these projects and programs, the Federal Republic of Germany has allocated EUR 161.7 million, including EUR 21.7 in the form of a grant.

The institutions and organizations involved in the projects funded by the Federal Republic of Germany were engaged in the negotiations from the Georgian side, while the representatives of the German Embassy to Georgia, the German Ministry for Economic Cooperation and Development (BMZ), Reconstruction Credit Institute (KfW) and German Society for International Cooperation (GIZ) participated in the consultations from the German side.