Donor organisations ready to provide $3 billion to Georgia in 2020

Besides the International Monetary Fund (IMF) will assist Georgia with $447 million. Photo: Nino Alavidze/, 14 Apr 2020 - 19:37, Tbilisi,Georgia

The European Union, Asian Development Bank, the European Bank for Reconstruction and Development, European Investment Bank, German Development Fund, French Development Agency will support the Georgian economy with $1.5 billion by the end of 2020, announced Georgian Prime Minister Giorgi Gakharia today.

This is budgetary and targeted assistance. The same donor organisations are ready to assist the private sector of Georgia with another $1.5 billion if they need it. This is a basic portfolio for crisis assistance. This also enables us to start real work on a post-crisis economic recovery plan together with our economic team and our international, donor organisations...I am sure Georgia will be able to attract more financial resources", Gakharia siad. 

Gakharia also said that the government has completed negotiations with the International Monetary Fund (IMF) which will assist Georgia with $447 million.

Georgia will be the first country which will be able to agree on conditions to extend the programme with the International Monetary Fund. This means an additional $447 million for the Georgian economy over the course of the year", Gakharia said.

Gakharia thanked all financial organisations for assisting Georgia battle the coronavirus crisis.