Georgia will receive financial support that amounts to € 190 million from the French Development Agency



Today, two agreements were signed between Georgia and the French Development Agency (AFD) on the allocation of € 190 million as financial support. Under these agreements:

• € 70 million is allocated to finance social welfare program, including to fight against COVID-19

• € 120 million - to support the energy sector reform program, including fight against COVID-19

The agreements were signed by the Minister of Finance of Georgia Ivane Matchavariani, the Director of the South Caucasus Regional Office of the French Development Agency (AFD) Gaelle Assayag and the Ambassador of the French Republic to Georgia Diego Colas.
The mentioned funding is budget support and will be directed to the state budget.

The agreements signed with the French Development Agency are part of the financial support that the Georgian government has received from partner international donor organizations for further rehabilitation of the country's economy.

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