Germany Suspends €370 Million Worth of Project Funding in Georgia

The German Ambassador to Georgia, Peter Fischer, said in an interview that the recent legislative amendments aimed at restricting foreign grants and, more broadly, the activities of foreigners in Georgia will further complicate prospects for cooperation between Germany and Georgia.

Peter Fischer told Analitika TV program that Germany has already suspended funding for projects in Georgia worth €370 million.

According to the ambassador, a list of development projects ready for funding had already been agreed upon between the two countries. However, the German government has temporarily reconsidered financing these projects.

The interview with the ambassador was recorded by bm.ge for its program Analitika.

According to the ambassador, the new legislative amendments, which significantly restrict the activities of foreigners in Georgia, will further complicate Germany’s prospects for cooperation with Georgia in the future.