EU to provide Georgia with 46 mln euro for budget support
TBILISI. May 30 (Interfax) - The European Union has reached an agreement with the European Parliament to provide Georgia with 46 million euro in financial aid, a spokesman for the EU's Georgian office told Interfax on Thursday.
These funds, which are being allocated in the framework of the European Neighborhood Policy (ENP), will be entirely directed at supporting Georgia's budget and balance of payments, as well as at stimulating economic growth, the spokesman said.
According to the new cooperation plan, the EU intends to render 670 million euro in financial aid to Georgia by 2020. Some of these resources are intended to support the national budget, and others are for financing new projects, particularly in agriculture.
The EU is providing Georgia with financial and technical assistance in various areas. In October 2008, when international donors decided to provide Georgia with $4.5 billion over the next three years, the EU gave the country 480.6 million euro to support its budget and implement various programs.