The European Commission, on behalf of the EU, has disbursed €15 million in loans to Georgia under the first instalment of its new Macro-Financial Assistance (MFA) programme. The grant component of €5 million will be disbursed in the coming days, bringing the total amount of this instalment to €20 million. The disbursement will help Georgiacover part of its financing needs and support the implementation of economic reforms. Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs said: “This disbursement is another demonstration of the EU's support for the people of Georgia. We will continue to support Georgia as it continues its programme of reforms designed to promote its economic transition and sustainable growth." Georgia's new MFA programme is worth up to €45 million in total. The European Parliament and the Council approved the new programme in April 2018. The previous two operations were each worth €46 million. This MFA disbursement is one element of the broader support the EU continues to provide to Georgia across a wide range of areas, including trade investment, research and innovation. This support and cooperation was discussed when members of the Government of Georgia, led by Prime Minister Mamuka Bakhtadze, met with President Juncker and the College of Commissionersin Brussels in November.
- Publication date
- 12 December 2018
- Directorate-General for Neighbourhood and Enlargement Negotiations