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Thursday, 27 October 2016


Europeans Approved the Allocation of 46 M Euro to Georgia

2011-05-10 18:21

Europeans Approved the Allocation of 46 M Euro to Georgia. 16831.jpegThe package of financial aid to Georgia of 46 mln. Euro was unanimously approved by the European Parliament deputies. According to the Business Georgia, the voting on this issue took place today as part of a session of the supreme legislative body of the European Union in Strasbourg.

It was noted at the Parliament session that the money will be sent to Georgia to stimulate the economic growth in the country and to help it in reducing the unemployment level. In addition, according to the document authors, these financial injections will enable successful reforms in the financial sector of the economy and will improve the investment appeal of the country. The European parliamentarians intend to allocate half of the amount in the form of grants and the rest in the form of loans.

The European Parliament also addressed the Georgian authorities urging them to "rigorously observe the country's obligations towards the IMF".

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