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French Development Agency to allocate funds to Georgia through new agreement

Business Materials 11 June 2021 11:10 (UTC +04:00)
French Development Agency to allocate funds to Georgia through new agreement

BAKU, Azerbaijan, June 11

By Tamilla Mammadova – Trend:

The French Development Agency (AFD) plans to lend about 483 million euros to Georgia through the new partnership agreement, Trend reports via Georgian media.

As reported, this agreement was signed for 2021-2023 between Georgian Finance Minister Lasha Khutsishvili and AFT Regional Director for Eurasia Cecile Couprie on June 10.

The money will be spent on water resources management, irrigation, agriculture, urban development and connectivity, energy, social welfare and health sectors of the Georgian economy.

"With the signature today of a three year partnership between France and the AFD on one hand, and the Georgian government and Ministry of Finance on the other hand, to the tune of 150 million euros per year, France as part of Team Europe is confirming our intention to be strong partner for Georgia," said French Ambassador to Georgia Diego Colas.

“We are signing a very important document, according to which additional financial assistance in the amount of 483 million euros will be allocated to Georgia. This is very important for our country,” Georgian Prime Minister Irakli Garibashvili said.

As the head of government noted, important projects and programs are being implemented in the country with the support of the French Development Agency.

“We have excellent cooperation with the French Development Agency. Since 2017, the agency has opened a regional office in Georgia. Our cooperation has strengthened and expanded even more,” said Garibashvili.

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