German Bank Gives 8 mln Euros for Georgian Energy Reforms

The German Bank for Reconstruction Credit (KfW) will provide grants of 8,440,000 Euros to support Georgia's energy reforms. An agreement was signed at the Ministry of Economy, signed by the Deputy Minister of Economy, Davit Tvalabeishvili, and the Director of KfW's South Caucasus Regional Office, Callaus Vogel.

Under the European Neighborhood Investment Platform (NIP), the purpose of the grant is to support the fulfillment of the obligations of the Ministry of Economy and Sustainable Development of Georgia as a member of the Energy Union, the introduction of a legislative framework for energy efficiency in the energy sector, and the introduction of a legislative framework for renewable energies and market reform.

“This assistance includes support for energy reforms in a variety of directions, including energy efficiency, renewable energies, improvement of legislation, and we believe that this assistance will be very productive for those important goals that are planned towards the reforms,” Tvalabeishvili noted at the signing ceremony.

The Technical Assistance Project will support the establishment and operation of a legislative and institutional framework, the setting of energy efficiency standards, and the establishment of a certification and inspection system alongside the implementation of capacity-building and qualification programs, ensuring construction and rehabilitation of existing buildings in accordance with energy efficient standards.

By Mariam Merabishvili

Image source: 1tv.ge