China to allocate $4.8M for Georgia’s development
Tbilisi, Georgia, Dec.19
By Nana Kirtzkhalia - Trend:
The governments of Georgia and China have signed an agreement 'On economic and technical cooperation', Georgian Finance Ministry told Trend on Dec.19.
The document was signed by Georgian Finance Minister Nodar Khaduri and Chinese Ambassador to the country Yue Bin.
"Under the agreement, Chinese government will allocate 30 million CNY (around $4.8 million) in the form of grant to Georgia," the ministry said.
This grant will be used to finance priority economic and technical projects that will be chosen following the consultations between the two sides, according to Georgian Finance Ministry.
The ministry added that Chinese government has allocated 250 million CNY worth of grant (about $41.1 million) and 20-year interest-free loan with a 10-year grace period since 2005.
Edited by CN