The Minister of Finance of Georgia and the Ambassador of the Federal Republic of Germany to Georgia signed a financial cooperation agreement between the Federal Republic of Germany and Georgia.
As InterPressNews was informed by the German Embassy, according to the agreement, the Federal Republic of Germany will allocate almost € 253 million (22.7 million as a grant and 230 million euro as a credit) within the framework of cooperation in the field of development.
Together with other projects, these funds will be used for vocational education, communal infrastructure of Kazbegi, Imereti and Adjara, expansion of electricity network and energy efficiency measures, as well as socio-economic integration of IDPs.
The German Ambassador emphasized the close relationship between Germany and Georgia.
“The volume of funds provided by today’s agreement is a record high and clearly expresses the importance of cooperation in the sphere of development between our countries,” said the Ambassador.
The agreement allows for large-scale assistance, which was agreed during the government consultations held in August 2017.
