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EU and Georgia sign financing agreements for coronavirus recovery worth €129 million

Christian Fernsby |
Commissioner for Neighbourhood and Enlargement Olivér Várhelyi and the Prime Minister of Georgia, Giorgi Gakharia, signed two financing agreements worth €129 million to assist Georgia in coping with the coronavirus outbreak and its impact on the country's economy.

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Topics: GEORGIA   

Support measures include medical supplies, social support to vulnerable groups, loans and grants to businesses and farmers throughout the country, and direct financial support to the state budget.

Through a €75 million grant, the EU will support the country's Anti-Crisis Economic Plan, designed to help citizens of Georgia recover from the impact of the pandemic.

Measures include social assistance for vulnerable households and support to businesses who have retained jobs in difficult times. It also foresees to increase the number of beds in intensive care units to prepare for a potential increase in infections.

The EU will support this plan with €54 million in grants targeting the economic development of regions outside the capital. In order for all citizens of Georgia to benefit from economic development, the programme will focus on local authorities and concrete actions for citizens, such as rehabilitating or constructing infrastructure in urban zones, encouraging tourism development, and supporting small and medium sized companies and innovation.

The programme also includes measures to support decentralisation and involving citizens in decision-making at local level.

The two agreements are part of the EU's response to coronavirus under the “Team Europe” initiative and have been signed in the context of the official visit by Prime Minister Gakharia in Brussels.


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