Sakartvelo will receive $ 40 million from the World Bank
Georgia will receive $ 40 million of preferential loans from the budget of the World Bank. According to "Business-Georgia", today the relevant agreement was signed by the Minister of Finance of Georgia Dmitry Gvindadze and regional World Bank Director for South Caucasus Asad Alam.
The document, called "On the funding of third event (DPO III) of policy development", provides allocation of concessional loan to support fiscal reform in Sakartvelo.
The volume of allocated credits is $ 40 million. The money were granted for 25 years, the grace period is 5 years and the rate - 2 percent per annum.
Georgia has already received $ 90 million and $ 51 million in 2009 and 2010 respectively within the first and the second part of this program. These funds were allocated under the concessional lending.