BAKU, Azerbaijan, March 28. German Development Bank (KfW) is implementing a new program in Georgia regarding the energy-efficient rehabilitation of public schools, the German Embassy in Tbilisi told Trend.
According to the source, a Memorandum of Understanding on the mentioned energy efficiency program was signed between the KfW and the Georgian Government in November 2021.
This is a joint program with a volume exceeding 100 million euros, financed by the KfW, along with the EU, and the European Bank for Reconstruction and Development (EBRD), the Embassy said.
This Memorandum was an important milestone towards signing the underlying loan and grant agreements and initiation of implementation activities planned in 2022, the source noted.
Meanwhile, Georgia has received 554 million euros over the past for years, of which 199 million euros was from the KfW, and 355 million euros - from the French Development Agency (AFD), along with grant financing for technical assistance in the amount of 8.44 million euros from the EU, implemented by the KfW to bring forward the energy sector reform to support Georgia to become a full-fledged member of the Energy Community.
“In the field of energy efficiency, Georgia and Germany have agreed on more in-depth cooperation, building on the existing portfolio, with the elaboration of a pilot project in the innovative industry of green hydrogen. With the signing of a Memorandum of Understanding between the KfW and the Georgian Ministry of Economy, the path of a pilot project was taken into concrete planning,” the Embassy added.
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