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European Parliament approves €45 million in financial aid to Georgia

Georgia Materials 16 March 2018 09:23 (UTC +04:00)

The European Parliament has endorsed a European Commission's proposal to provide further macro-financial assistance worth of €45 million to help Georgia cover part of its external financing needs for the period of 2017-2020, Agenda reports.

Head of the Georgia-EU Association Committee Sajad Karim wrote on his Twitter that the €45 million financial assistance comprises of both medium-term loans (€35 million) and grants (€10 million).

The European Parliament approved the €45 million in macro-financial assistance with 570 votes in favour and 108 against.

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