PM Gakharia: EU-Georgian Relations are Stronger than Ever

Georgian Prime Minister Giorgi Gakharia has expressed gratitude to the EU Commission for providing additional financial support to Georgia during the coronavirus crisis.

“Grateful to the EU Commission for the additional financial support of €150 million during this crisis. Georgia-EU relations are stronger than ever. Special thanks to President of the European Commission Ursula von der Leyen, High Representative of the EU for Foreign Affairs and Security Policy and Vice-President of the European Commission Josep Borrell Fontelles and the European Union Commissioner for Neighborhood and Enlargement Oliver Varhelyi,” the PM tweeted.

The first ‘Team Europe’ package, presented on 30 March, provided for urgent healthcare supplies and technical expertise, assistance to vulnerable groups, and wide liquidity support to small and medium-sized enterprises (SMEs), including in local currency. The second package was unveiled on 8 April and included over €183 million for Georgia in support to socio-economic measures, including a contribution to bridging the financing gap. These packages brought the total COVID-related support to Georgia to €250 million in non-reimbursable grants. It was made possible thanks to an acceleration of available resources and redirection of existing programs to address the immediate needs stemming from the pandemic and its fallout.

"I am proud to convey that the European Commission has proposed a third package, in the form of €150 million of loans on highly favorable terms to further help Georgia cover its immediate financing needs. Together with IMF support, our funds aim to enhance macroeconomic stability and create space to allow resources to be channeled towards protecting the Georgian citizens and mitigating the pandemic's negative socio-economic consequences. This support represents an important demonstration of the EU’s and the whole Team Europe’s solidarity with a key partner and friend at a time of unprecedented crisis," EU Ambassador to Georgia Carl Hartzell said in a letter sent to the Prime Minister Giorgi Gakharia Wednesday.

26 April 2020 17:36