International Climate Fund allocates financial aid for Georgia

Business Materials 13 July 2021 17:10 (UTC +04:00)
International Climate Fund allocates financial aid for Georgia

BAKU, Azerbaijan, July 13

Tamilla Mammadova – Trend:

Georgia will receive financial aid of 47 million euros from the International Climate Fund (ICF), Trend reports via Georgian media.

The agreement envisages the facilitation of implementation of the forest reform.

According to Deputy Environmental Minister Nino Tandilashvili, Georgia adopted the new Forest Code in 2020 envisaging the establishment of sustainable forest management principles. Besides, Georgia submitted the application to the ICF on financial aid for the implementation of the Forest Code activities, according to which the ICF has allocated 33 million euros to Georgia.

Besides, Germany intends to allocate extra 10 million euros as a grant and the Swiss Government – 4 million euros as a grant – totally constituting 47 million euros to be consumed on the implementation of the forest stock-taking works, arrangement of the business yards and development of alternative fuel means in three regions – Guria, Mtskheta-Mtianeti and Kakheti.

The project is designed for 2021-2027. The committee approved the document.


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