EU allocates 100 million euros to Georgia to fight coronavirus

The European Union has allocated 100 million euros for Georgia’s fight against the coronavirus to support the population and local businesses during the economic crisis and stabilize the country’s financial situation.

75 million euros of this amount should be used to mitigate the socio-economic impact of the coronavirus pandemic.

25 million is the last tranche of the previous macro-financial assistance program, approved in April 2018.

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EU Ambassador Karl Hartzel said that the reforms to be carried out with these funds “will further bring Georgia closer to European standards.”

The macro-financial assistance program is co-financed by the International Monetary Fund and is part of a broader GEL 1.5 billion aid package provided by the European Union to Georgia to combat the coronavirus pandemic.

“The agreed reforms related to this special assistance will contribute to the long-term prospects for further approximation of Georgia to European standards,” said EU Ambassador Karl Harzel.

Since 2008, the European Union has provided macro-financial assistance to Georgia four times.