EU to assist Georgia in coping with COVID-19 outbreak and its impact on country's economy

EU to assist Georgia in coping with COVID-19 outbreak and its impact on country's economy

BAKU, Azerbaijan, Sept. 29

By Tamilla Mammadova – Trend:

European Union Commissioner for Neighborhood and Enlargement Olivér Várhelyi and Prime Minister of Georgia, Giorgi Gakharia, has signed two agreements worth 129 million euros in Brussels to assist Georgia in coping with the COVID-19 outbreak and its impact on the country's economy, Trend reports via Georgian media.

“The European Union is standing by Georgia in wake of the COVID-19 pandemic. We will continue to do everything we can to alleviate the effects of the pandemic on the lives of the people and businesses,” Várhelyi said.

The two financing agreements signed as part of the EU's COVID-19 support package for Georgia will reinforce support in key programs:

"COVID-19 Resilience Contract for Georgia" - Through a 75 million euros 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. The grant will also help to increase the number of beds in intensive care units to prepare for a potential increase in infections.

"EU4 Integrated Territorial Development" - The EU will support this plan with 54 million euros in grants targeting the economic development of regions outside the capital. In order for all citizens of Georgia to benefit from economic development, the program 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 program also includes measures to support decentralization and involving citizens in the decision-making process at the local level.

The two agreements are part of the EU's response to COVID-19 under the "Team Europe" initiative. The total package today is at 36.5 billion euros.

EU support mobilized for Georgia since the beginning of the crisis includes a variety of actions designed to help Georgian citizens cope with and recover from the impact of the pandemic.

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.

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Follow the author on Twitter: @Mila61979356

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