BTC Co. Company has transferred to $11 mln grant to Georgia within the renewed agreement between BTC Co. and Georgian government On creation of grant program for Georgia, special correspondent of Trend in Tbilisi has been told at the Georgian Finance ministry.
The amount was received by the united revenue account of the state treasury of the country.
The agreement On creation of grant program for Georgia was legalized by BTC Co. and Georgian government on October 19, 2004 and intends to deliver $40 mln as a financial support. This is: educational programs and measures for the pupils of secondary schools, as well as construction, reconstruction and accomplishment of educational institutions; programs for first aid in the sphere of health (hospitals, clinics, etc.); programs or initiatives for social provision; projects directed towards strengthening the relations of the trade and industrial enterprises, government and civil society of Georgia, and European countries, as well as technical standards, elimination of barriers between Georgia and European Union; support of the initiatives for creation of workplaces in Borjom region and development of tourism.
On July 26, the sides signed a amended and renewed agreement. One of the reasons for the amendments is the reforms held in Georgia in the state treasury, especially application of a unified revenue account.
Besides, to ensure the transparency of spending the grant amount, the agreement was made a clause on the issue that after confirmation of the state budget of the country, the Finance Ministry should annually provide written information to BTC about the expenditure articles that will be financed at the expense of the grant program. And finally, it was specified the period of grant of BTC Co. within the program.
It was described in the renewed agreement that the first tranche totaling $9 mln within the grant program was received by Georgia in November 2004. The remaining $31 mln was intended for the period of 2006-2010s.
According to the schedule, in 2006 Georgia will receive one more grant from BTC Co. in amount of $4 mln. The remaining four grants of the same amount will be transferred to Georgia within next four years.
The finance received within the grant program of BTC Co. in 2006 will be directed towards financing the program for support to the institutions of general education of Georgia. In parallel, through the same grant, Great Borjomi Initiative will be realized, which intends to present jointly $5 mln for the realization of several projects for support of the population of the regions of Borjomi, Bakurani, Akhalsikhe, Tsalka, etc.