KFW, AFD and EU Financed Georgia's Energy Reform with € 563 million
Georgia has received € 563 million in funding for energy sector reforms in 2018-2021 from the German Bank for Reconstruction and Development (KFW), the French Development Agency (AFD) and the European Union.
As part of the extension of the existing partnership, a new document on cooperation between the parties has already been signed. The "Declaration of Intent" signed by KFW, AFD and the European Union Delegation to Georgia (EUD) aims to continue multinational and international support for government reforms in the energy and green sectors.
"Following a successful series of energy support programs over the past four years, the signing of the Declaration supports more comprehensive and ambitious reform package for Georgia. This step reflects the credible cooperation between the Georgian partners and the members of the European team," said German Ambassador to Georgia Hubert Knirsch.
French Ambassador Diego Callas positively assesses the reforms implemented by Georgia in the green sectors.
"Today's signing confirms the readiness of the Government of Georgia to fully implement the reform, bring it in line with EU standards, facilitate a safe transition to a green economy, establish a regional energy market platform and strengthen energy sovereignty. Georgia is taking steps towards energy sector reforms that, like the EU, is moving towards an organized energy market and maintaining the image of a transformative, progressive and reformist country, which will ultimately lead to EU standards and stronger ties with Europe," said Diego Callas.
The EU delegation believes that the signed document will bring the country closer to the "European Green Initiative".
"We are pleased to continue to work with our Team Europe partners to implement reforms in line with the objectives of the Europe Green Agreement. The readiness of the Georgian government is important for our assistance in bringing about positive climate change, environmental, economic and social impact in the country," said Sigrid Brettell, Head of the EU Delegation to Georgia.