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US to provide Georgia with grant under bilateral development agreement

Business Materials 23 June 2021 17:39 (UTC +04:00)

BAKU, Azerbaijan, June 23

By Tamilla Mammadova – Trend:

The US will provide Georgia with a grant in the amount of $66.96 million under a bilateral development agreement, Trend reports via Georgian media.

The agreement on the agreement was assessed at a joint meeting of the committees of the environment and natural resources and regional policy and self-government.

According to First Deputy Finance Minister Giorgi Kakauridze, the amount of the grant may increase to $330 million, as of the already allocated amount it will be distributed as follows: $14.51 million will be spent on strengthening resilience to external treasury adverse effects; strengthening accountability to improve democratic achievements - $25.88 million; $26.56 million to create inclusive, high-paying, high-quality job opportunities as a result of economic growth.

According to Kakauridze, the amount of the grant will not be transferred to the state budget and will be spent by USAID contractors.

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