Time in Tbilisi: March 29, 2024 03:03
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.
The International Monetary Fund (IMF) is working with the Georgian authorities to provide 'additional financing' to contain the spread of the coronavirus and support the Georgian people and economy, announced the Mission Chief for Georgia at the International Monetary Fund (IMF) Mercedes Vera-Martin in a statement published on March 30.
The United States Government is providing $1.1 million assistance to Georgia in response to the COVID-19 pandemic. This will help prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk communication and more
The World Bank is offering €45 million to support Georgia implement ongoing reforms in areas critical for inclusive economic growth and also assist in the country’s efforts to mitigate the economic impact of the COVID-19 pandemic.
The European Investment Bank (EIB) will allocate €200 million for development of healthcare infrastructure in Georgia, as well as supporting its fiscal and other needs amid the coronavirus pandemic. Georgian Prime Minister Giorgi Gakharia and Vice-President of the EIB Lilyana Pavlova, held a discussion during a video conference earlier today.
The government of Georgia has created an anti-crisis economic group as part of the Interagency Council to better manage the coronavirus’ impact on the Georgian economy, announces the Prime Minister Giorgi Gakharia.
The International Monetary Fund (IMF) is offering $450 million to help Georgia contain the COVID-19 pandemic and limit its economic impact, announces the IMF. The IMF reached an agreement with the Georgian authorities for the completion of the Sixth Review and an augmentation of access under the Extended Fund Facility.
The Heydar Aliyev Centre in the Azerbaijani capital of Baku has been lit up with the colours of the Georgian flag as a sign of support and solidarity with its neighbouring country amid the coronavirus pandemic. Georgian President Salome Zurabishvili thanked her Azerbaijani counterpart Ilham Aliyev on Twitter.
Economic growth in Georgia is projected to reach 3 per cent in 2021, while it will be reduced by 4 per cent in 2020, says the International Monetary Fund (IMF) in its World Economic Outlook. It says that the COVID-19 pandemic is inflicting high and rising human costs worldwide and the necessary protection measures are severely impacting economic activity.
The Tbilisi TV tower has lit up with the colours of the British flag as a sign of support and solidarity with the United Kingdom in the fight against the new coronavirus. Georgian Foreign Minister David Zalkaliani wrote on Twitter that Tbilisi stands “together and united” with the UK “in this difficult time”.
The International Monetary Fund (IMF) has praised the steps of the Georgian government to support its citizens and the private sector amid the coronavirus pandemic. The IMF is allocating financial support for Georgia in the framework of the Extended Fund Facility (EFF) programme to minimize the coronavirus’ impact on the Georgian economy.
The German development agency GIZ has provided 100,000 face masks and 2,000 litres of hand sanitising liquid to the Georgian Ministry of Health to help handle the coronavirus pandemic.
The European Commission has adopted a proposal for a COVID-19 support package for Georgia comprised of €150 million to help the country limit the economic fallout of the coronavirus pandemic.
Georgian Prime Minister Giorgi Gakharia wrote on his twitter account that Georgia-EU relations are stronger than ever. He thanked the European Commission for additional support of 150 million euros to help Georgia limit the economic fallout of the coronavirus pandemic.
The Investors Council will support the government of Georgia in developing a new investment strategy for the country and will engage in designing steps to attract new foreign investments to the country, announces the government of Georgia.
Georgia will spend 3.5 billion (about $1.10b/€1.02b) on its coronavirus anti-crisis plan, Georgian Prime Minister Giorgi Gakharia announced earlier today. "For now, the country will spend GEL 3.5 billion on managing the crisis, of which 1.035 billion GEL will be directed at social support of citizens, 2.11 billion GEL will be directed at the economy and entrepreneurs, while 350 million GEL will be spent on the health care of each citizen", Gakharia said.
Czechia has given thermal scanners to Georgia’s western Zugdidi Screening Centre, which will be used to identify individuals that may have COVID-19 symptoms in the region.
The European Bank for Reconstruction and Development (EBRD) and the National Bank of Georgia (NBG) are increasing the availability of the Georgian national currency, the lari (GEL), to private companies in a joint move to support businesses suffering from the impact of the coronavirus pandemic, announces the EBRD.
The Georgian Football Federation will receive €4.3 million from UEFA to overcome the financial impact caused by the coronavirus pandemic. In addition to Georgia UEFA is helping all its 55 member associations. For this reason UEFA has allocated €236.5 million which will be distributed to the national associations to cover running costs and to help develop targeted areas of domestic football.
Georgian Prime Minister Giorgi Gakharia announced earlier today how the government intends to help businesses and agriculture during the COVID-19 crisis.