EU allocates €20 mln to finance economic reforms in Georgia

Thu 13 Dec 2018 13:02 GMT | 17:02 Local Time

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The European Commission has disbursed €15 million in loans to help Georgia cover part of its financing needs and support the implementation of economic reforms, Agenda.ge reports.

The loan was provided 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”, read the press release published by the EU Delegation to Georgia.

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.

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