Germany Allocates Additional €20.8 mln for Georgia's Fight against COVID-19

The German government has allocated additional 20.8 million euros to support Georgia's fight against COVID-19. 

Loan and Grant Agreements “Social Security in the Context of the COVID-19 Pandemic” have been signed between Georgia and the German Reconstruction Credit Bank (KfW).

The agreements were signed by the Minister of Finance of Georgia Ivane Machavariani and Head of the South Caucasus Regional Office of German Reconstruction Credit Bank (KfW) Klaus Veigel.

Within the framework of the project, 15 million euros allocated as part of the loan agreement provides social assistance to those affected by the COVID-19 pandemic.

The grant agreement, amounting to € 5.8 million under the targeted social assistance program, is intended to provide social assistance to people affected by extreme poverty.

These agreements are part of the financial support that the Government of Georgia has received from partner international donor organizations to combat the COVID-19 pandemic and further rehabilitate the country's economy.

By Ana Dumbadze