The European Union will allocate a loan of 150 million euros to Georgia to overcome the damage from the coronavirus
The European Commission initiated the allocation of a macro-financial assistance package of 150 million euros to Georgia to overcome the damage caused by the coronavirus.
The EU mission in Georgia today published the text of a letter from EU Ambassador Karl Harzel addressed to Georgian Prime Minister Giorgi Gakharia. The diplomat notes that the unprecedented assistance provided to Georgia is a clear demonstration of the solidarity of the entire European team towards its main partner and friend in the current emergency crisis.
The assistance of the European Union consists of two packages. The first includes financing the purchase of medical equipment of primary need, support for vulnerable groups, and large-scale assistance to small and medium-sized enterprises in order to maintain liquidity, including in local currency.
The second package, published on April 8, provides for the allocation of more than 183 million euros to Georgia to support socio-economic measures, including to cover the country's financial losses.
Thus, the total amount of these two aid packages allocated by the European Union to Georgia as grants to overcome the damage caused by coronavirus exceeds 250 million euros.
"I am happy to inform you that the European Commission has announced a third package-a 150 million Euro loan on very favorable terms to help meet Georgia's urgent financial needs. With the support of the International monetary Fund, our assistance is aimed at strengthening macroeconomic stability and creating conditions under which it will be possible to use resources to protect the citizens of Georgia and mitigate the negative socio-economic consequences of the pandemic.
This unprecedented assistance to Georgia to overcome the coronavirus pandemic and its socio-economic consequences is justified and targeted.
This is a clear demonstration of the solidarity of the entire EU and European team towards their main partner and friend during this unprecedented crisis.
We look forward to strengthening our cooperation in the coming days, weeks and months," said Karl Harzel in a letter addressed to George Gakharia.
Source newsgeorgia.ge
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The European Union will allocate a loan of 150 million euros to Georgia to overcome the damage from the coronavirus
The European Commission initiated the allocation of a macro-financial assistance package of 150 million euros to Georgia to overcome the damage caused by the coronavirus.
The EU mission in Georgia today published the text of a letter from EU Ambassador Karl Harzel addressed to Georgian Prime Minister Giorgi Gakharia. The diplomat notes that the unprecedented assistance provided to Georgia is a clear demonstration of the solidarity of the entire European team towards its main partner and friend in the current emergency crisis.
The assistance of the European Union consists of two packages. The first includes financing the purchase of medical equipment of primary need, support for vulnerable groups, and large-scale assistance to small and medium-sized enterprises in order to maintain liquidity, including in local currency.
The second package, published on April 8, provides for the allocation of more than 183 million euros to Georgia to support socio-economic measures, including to cover the country's financial losses.
Thus, the total amount of these two aid packages allocated by the European Union to Georgia as grants to overcome the damage caused by coronavirus exceeds 250 million euros.
"I am happy to inform you that the European Commission has announced a third package-a 150 million Euro loan on very favorable terms to help meet Georgia's urgent financial needs. With the support of the International monetary Fund, our assistance is aimed at strengthening macroeconomic stability and creating conditions under which it will be possible to use resources to protect the citizens of Georgia and mitigate the negative socio-economic consequences of the pandemic.
This unprecedented assistance to Georgia to overcome the coronavirus pandemic and its socio-economic consequences is justified and targeted.
This is a clear demonstration of the solidarity of the entire EU and European team towards their main partner and friend during this unprecedented crisis.
We look forward to strengthening our cooperation in the coming days, weeks and months," said Karl Harzel in a letter addressed to George Gakharia.
Source newsgeorgia.ge
Tags:
