EU to Provide €410 Million Financial Assistance to Georgia

• 04.21.2015, 11:16
•  Europe,  Region

EU will grant a new financial package to Georgia if the EU assessment mission prepares a positive report on the country’s progress in May. The financial assistance will worth €410 million (1 billion GEL) and the funds will be spent on implementing the EU-Georgia Association Agreement, European Commissioner Johannes Hahn said in Luxemburg after the meeting with Georgia’s Foreign Minister Tamar Beruchashvili.

"The EU has already allocated this money for Georgia and we hope that we will get an opportunity to spend it as intended," -  Hahn said and added that the financial package would be used to boost micro and small business entrepreneurship in Georgia from now until 2017.

The final decision regarding the financial package will be made at the upcoming Riga Eastern Partnership Summit scheduled in May.