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China allocates Georgia $ 9,5 million

2012-07-11 15:26

People's Republic of China will provide Georgia $ 9.5 million, the Business-Georgia reported. In this regard, the Governments of Georgia and China signed an agreement on economic and technical cooperation.


According to the Ministry of Finance of Georgia, from the Georgian side the agreement was signed by the Minister of Finance and from the Chineese side - by the Vice Minister of Commerce.

Under the agreement, Georgia will receive $ 9.5 million for agricultural development. In particular, this amount will go to support a program of mechanization of the countryside.

Georgian Finance Ministry noted that was the second Chinese grant, which would be directed at promoting the development of agriculture in Georgia, the ArmInfo reported.

Since 2005, the PRC government has allocated Georgia 220 million yuan (about 34,7 million dollars) in the form of a grant and a 20-year interest free trade credit in the amount of 30 million yuan (about 4,7 million dollars) with a 10-year grace period.

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