Germany Allocated Additional €20.8 Million to Georgia to Fight COVID-19

The German government has allocated an additional € 20.8 million to Georgia to fight COVID-19 .

Loan and grant agreements have been signed between Georgia and the Reconstruction Credit Bank (KfW) in the context of the social secuity during COVID-19 pandemic.

The agreements were signed by the Minister of Finance of Georgia, Ivane Machavariani, and the Director of the Regional Office of the Reconstruction Credit Bank (KfW) in the South Caucasus, Klaus Feigel.

Under the project, € 15 million of the loan agreement is allocated to provide social assistance to those affected by the COVID-19 pandemic.

The grant agreement, amounting to € 5.8 million under the targeted social assistance program, is intended to provide social assistance to people affected by extreme poverty.

The agreements are also part of the financial support that the Georgian government has received from partner international donor organizations to combat the COVID-19 pandemic and further rehabilitate the country's economy.