German development bank supports Georgia's energy sector reform
BAKU, Azerbaijan, May 29
By Tamilla Mammadova – Trend:
Georgia will receive 90 million euros from German government-owned development bank (KfW) to help the country’s reforms in the energy sector, Trend reports referring to Georgian Ministry of Finance.
Georgian Finance Minister Ivane Machavariani and Director of the KfW Representative Office in the South Caucasus Claus Faigel signed a corresponding agreement on May 28.
The agreement is part of the financial support that the Georgian government has attracted from its international partners to contain the spread of the coronavirus and help restore the Georgian economy.
Machavariani noted that this funding will be directed to the state budget.
Meanwhile, the Georgian parliament has adopted legislation on energy efficiency and energy performance of buildings, bringing the country closer to EU standards. The legislation aims to reduce emissions and pollution, improve the energy efficiency of buildings, as well as decrease energy imports and bolster the country’s energy security.
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