EU Disburses EUR 60 million Grant for COVID-19 Assistance to Georgia
The European Union disbursed a €60 million (approximately GEL 240 million) grant to assist Georgia in managing the COVID-19 outbreak, Delegation of the European Union to Georgia announced on Monday.
The funds are dedicated to assist the implementation of the Georgian Government’s Anti-Crisis Economic Plan.
“The EU continues to stand firmly by Georgia during the pandemic. This GEL 240 million grant payment is a key part of the GEL 1.5 billion assistance package that the EU and Team Europe mobilized last spring. They are aimed at helping the Government respond to the pandemic and support Georgian citizens to cope with the serious challenges so many are facing these days” said Carl Hartzell, EU Ambassador to Georgia.
These funds are the first payment of the EU’s €75 million (approx. GEL 300 million) “COVID-19 Resilience Contract for Georgia”, through which the EU will support the country's Anti-Crisis Economic Plan. The Plan is composed of measures aimed at reducing the negative effects of losses of income and preserving jobs, supporting businesses, and strengthening the healthcare system. The overall aim of EU financial support is to help citizens and businesses of Georgia recover from the impact of the pandemic.
This disbursement was approved after the Government’s Anti-Crisis Economic Plan, economic policies, public finance management and budget transparency had been verified. The remaining funds will be disbursed based on an assessment of Government measures, including the delivery of social assistance for vulnerable households, support to businesses who have retained jobs, and an increase in the number of beds in Intensive Care Units.
This payment follows the EU’s transfer of EUR 100 million (approximately GEL 400 million) in loans for macro-financial assistance on 25 November. Both payments are part of the wider GEL 1.5 billion EU support package for Georgia, which also covers support to health, social sector and economic recovery.