Georgia will get a EUR 90 million loan from the German government to fight the COVID-19 pandemic and shore up the economic recovery, the Georgian Finance Ministry announced on May 28.
According to the Ministry, KfW – German state-owned development bank – agreed to disburse the loan within the framework of the third stage of Energy Network Improvement Program in Georgia. The loan agreement was signed by Finance Minister Ivane Machavariani and Head of KfW’s South Caucasus Office Klaus Veigel.
The allocated funds will be directed to the state budget.
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