EU to assist Georgia with €150 mln amid COVID-19 pandemic
Georgia will receive €150 million in macro-financial assistance from the European Council to help the country ‘cope with the economic fallout’ of the COVID-19 pandemic, agenda.ge reports.
Georgia is among the ten enlargement and neighborhood partners of the European Union which will receive the assistance ‘in the form of loans on highly favorable terms’.
The EU ambassadors have endorsed the Commission proposal earlier today.
The EU assistance aims to help the countries ‘cover their immediate financing needs’ which have increased as a result of the COVID-19 outbreak.
The funds, which will be available for twelve months, will be disbursed in two installments. The loans will have a maximum average maturity of 15 years.