EU allocates next tranche to Georgia to reform financial system
Georgia, Tbilisi, Jan. 5 / Trend N.Kirtzkhalia /
The European Union has allocated the third tranche worth 4.55 million euros top Georgia to reform the country's financial system, the EU mission in Tbilisi told Trend . The EU listed tranche in late 2009.
The EU issued the third tranche was listed under the financial agreement signed with the Georgian government in 2007. Under the agreement, in 2009-2010, the structure will allocate 15 million euros and additional 1 million euros to provide additional technical assistance. All of this assistance is aimed at strengthening the financial system.
The European Commission noted that the listing of each tranche depends on the implementation of agreed terms in areas such as budgeting, financial accounting, treasury reform, improvement of internal and external audit, public procurement and the strengthening of the revenue service by the government.
The first tranche worth 5 million euros was listed in February 2008 and the second - 4 million euros - in December 2008.
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