28 Dec 2017 14:57

Georgia to receive 48 mln euros from EU for reform needs

TBILISI. Dec 28 (Interfax) - The European Union has provided Georgia with another grant of 48.1 million euros as part of the financial package supporting the reforms aimed at Georgia's integration with the EU, the Georgian mission to the European Union said on Thursday.

Georgia will receive those funds as a token of the recognition of its successes achieved in 2017 and a form of support for further implementation of Georgian obligations under the Deep and Comprehensive Free Trade Areas (DCFTA) agreement.

The money will be spent on fostering trade, small and mid-sized business, agriculture, rural development, judiciary and administrative reforms, vocational training, and employment.

Georgia and the EU signed the Association Agreement, of which DCFTA is a part, in Brussels on June 27, 2014. A month later Georgia and the EU signed the mutual understanding memorandum under the Single Support Framework (SSF). The document ensured the EU's financing of Georgia with up to 410 million euros through 2017.