EU, KfW, AFD to maintain support for Georgia’s energy sector

Georgia Materials 26 January 2022 16:54 (UTC +04:00)
EU, KfW, AFD to maintain support for Georgia’s energy sector

BAKU, Azerbaijan, Jan. 26

By Maryana Akhmedova – Trend:

Georgia’s Finance Ministry, the German Bank for Reconstruction and Development (KfW), the French Development Agency (AFD), and the EU delegation have signed a Declaration of Intent to continue providing support for the country’s energy sector, Trend reports via the press service of the Finance Ministry.

“Following the successful series of budget support programs implemented in the energy sector over the past four years, the signing of the Declaration of Intent paves the way for an even deeper, more comprehensive and ambitious reform package for Georgia,” the Ambassador of the Federal Republic of Germany to Georgia Hubert Knirsch said.

“We are pleased to continue to work with our Team Europe partners to implement reforms in line with the objectives of the Europe Green Agreement. The readiness of the Georgian government is important for our assistance in bringing positive climate change, environmental, economic, and social impact in the country,” Sigrid Brettel, the Head of the EU Delegation to Georgia, said.

Significant progress has been made since 2018 in bringing Georgia's energy legislation into line with the best practices of the EU. Team Europe partners and the Government of Georgia have agreed to develop and implement energy, climate, environmental, and green transformation reforms in line with the Europe Green Agreement.

Georgia has already received 199 million euros from the KfW, 355 million euros – from AFD, and 8.44 million euros – from the EU over the past four years.


Follow the author on Twitter: @mariiiakhm