Baku, Azerbaijan, September 21
By Tamilla Mammadova – Trend:
KfW Entwicklungsbank (KfW Development Bank), the German government-owned development bank will provide Georgia with a grant of 8.44 million euros to support energy reforms, Trend reports citing the Ministry of Economy and Sustainable Development of Georgia.
The corresponding agreement was drawn up at the Ministry of Economy, which was signed by Deputy Minister of Economics David Tvalabeishvili and Klaus Vigel, director of the regional branch of the German Development Bank in the South Caucasus.
“This assistance includes supporting reforms in the energy sector in various areas, including energy efficiency, renewable energy, improving the legislative framework, and we believe that this assistance will be very productive for these important goals that we have planned,” said Tvalabeishvili.
According to him, the reform of the energy sector of Georgia involves fundamental reforms in the energy sector in 2018-2021 through the implementation of energy efficiency policies through a strategic vision, institutional framework and financial mechanisms.
Accordingly, the technical assistance project signed with the Bank is an additional tool for the four-year program for reforming the Georgian energy sector with the support of the German Development Bank and the French Development Agency.
The German Development Bank will assist the Ministry of Economy of Georgia in the implementation of a technical assistance project.