Categories: Georgia

Dimitry Kumsishvili: In 2018, the EU will provide two new budgetary assistance to Georgia

The FINANCIAL — As the First Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development Dimitry Kumsishvili stated, Georgia will sign a new agreement with the EU in 2018 on allocating another budgetary supports. In particular, the support will be provided within the Budget Assistance Program to support business and economic development amounting to 47 million euros, as well as the professional education and retraining programs (approximately 50 million euros).

The First Vice Prime Minister also highlighted the new financial instrument – the European Foreign Investment Plan, which Georgia will also be able to use. Within the framework of this plan, the EU will increase its share of 4 billion to 41 billion euros, according to Ministry of Economy and Sustainable Development of Georgia.

“With this instrument, first of all, it will be shared the risk of those investments that will be implemented in our country. In addition, we will have the opportunity to get technical assistance to develop technical and economic feasibility studies to reveal the best opportunities and investments in our country. At the same, it will be possible to attract funds from the European Investment Fund, whose total funding budget is 41 billion euros,” – the First Vice Prime Minister of Georgia, the Minister of Economy and Sustainable Development Dimitry Kumsishvili noted.



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