...

Germany to provide 130 million Euros of additional support for Georgia’s development

Georgia Materials 16 May 2013 20:29 (UTC +04:00)
Germany will provide 130 million Euros of additional support for Georgia’s development, of the Minister of Finance of Georgia Nodar Khaduri and the Head of Department of the Ministry of Economic Cooperation and Development of Germany Annette Seidel said at a joint press conference on Thursday.
Germany to provide 130 million Euros of additional support for Georgia’s development

Georgia, Tbilisi, May 16 / Trend. Trend N.Kirtzkhalia /

Germany will provide 130 million Euros of additional support for Georgia's development, the Minister of Finance of Georgia Nodar Khaduri and the Head of Department of the Ministry of Economic Cooperation and Development of Germany Annette Seidel said at a joint press conference on Thursday.

Negotiations were underway in Georgia during two days on financial and technical cooperation between Georgia and Germany.

According to Khaduri, the German side has further committed itself to provide support in the amount of 102.5 million Euros and additional regional commitment for 29.2 million Euros.

These funds will be used for different areas, including energy, agriculture, environmental protection, infrastructure, education, etc.

According to Khaduri, part of this amount is a loan with a low enough interest rate, while the remaining portion is a grant. A loan of five million Euros will be used to promote the development of small and medium-sized enterprises in the agricultural sector.

A loan of 30 million Euros and a grant of two million Euros will be used for the development of water infrastructure in the suburbs of Batumi as well as for activities to strengthen the shoreline in Adjara.

Approximately 25 million Euros will be used for the Djvari - Khorga project.

As part of the agreement, it is planned to build a landfill in Kutaisi, which, apart from this city, will serve five surrounding areas.

The agreement was signed by the Deputy Minister of Finance David Lejava and Annette Seidel.

Tags:
Latest

Latest