Loan and Grant Agreements "Social Security in the framework of the COVID-19 Pandemic" were signed between Georgia and the Development Bank (KfW).

The agreements were signed by the Minister of Finance of Georgia, Ivane Matchavariani, and the Director of the Regional Office of the Development Bank (KfW) in the South Caucasus, Klaus Feigel.

Under the project, a loan of EUR 15 million is extended to provide social assistance to those affected by the COVID-19 pandemic.

The Grant Agreement, amounting to EUR 5.8 million under the Targeted Social Assistance Program, provides social assistance to those affected by extreme poverty.

These resources are also part of the financial support that the Government of Georgia has received from the partner international donor organizations to fight against the COVID-19 pandemic and further for the economic recovery.