The German state Bank will allocate 180 million euros to Georgia to overcome the consequences of the pandemic

2020/08/02-1596872654.jpg
Read: 807     13:00     08 Август 2020    

Germany will allocate 180 million euros to Georgia to overcome the consequences of the COVID-19 pandemic. The agreement was signed by Georgian Finance Minister Ivane Machavariani and Klaus Feigel, Director of the regional office of the Credit Bank for reconstruction of Germany (KfW) in the South Caucasus.

According to the press service of the Ministry of Finance, the money is allocated within the framework of the program "Improving the competitiveness of the Georgian economy and resilience to the crisis", which was developed by Germany to provide urgent financial assistance to Georgia. The KfW tranche is part of the funds of international organizations and partners that the government of Georgia managed to mobilize in the spring to fight the pandemic and restore the country's economy.

Today, Machavariani and Feigel also signed an agreement that involves the construction and repair of new municipal infrastructure in four municipalities of Georgia: bagdati, Vani, Samtredia and Kazbegi. KfW will allocate 130 million euros to Georgia for these projects.

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The German state Bank will allocate 180 million euros to Georgia to overcome the consequences of the pandemic

2020/08/02-1596872654.jpg
Read: 808     13:00     08 Август 2020    

Germany will allocate 180 million euros to Georgia to overcome the consequences of the COVID-19 pandemic. The agreement was signed by Georgian Finance Minister Ivane Machavariani and Klaus Feigel, Director of the regional office of the Credit Bank for reconstruction of Germany (KfW) in the South Caucasus.

According to the press service of the Ministry of Finance, the money is allocated within the framework of the program "Improving the competitiveness of the Georgian economy and resilience to the crisis", which was developed by Germany to provide urgent financial assistance to Georgia. The KfW tranche is part of the funds of international organizations and partners that the government of Georgia managed to mobilize in the spring to fight the pandemic and restore the country's economy.

Today, Machavariani and Feigel also signed an agreement that involves the construction and repair of new municipal infrastructure in four municipalities of Georgia: bagdati, Vani, Samtredia and Kazbegi. KfW will allocate 130 million euros to Georgia for these projects.

newsgeorgia.ge





Tags: