German Ambassador, Georgian Finance Minister sign €5.24 mln grant agreement

The agreement will enable a biodiversity conservation project worth around €24 million. Photo: German Embassy's press office

Agenda.ge, 09 Nov 2021 - 17:06, Tbilisi,Georgia

German Ambassador Hubert Knirsch and Georgian Finance Minister Lasha Khutsishvili have signed a sustainable local development agreement on a grant of €5.24 million.

The agreement, signed earlier today, will enable a biodiversity conservation project worth around €24 million.

The German non-profit Caucasus Nature Fund (CNF) additionally grants €40 million for nature conservation in the South Caucasus region. Thanks to this funding, Georgia’s 12 existing protected areas will be financed.

Germany commits to further support Georgia, especially in the areas of vocational training, promotion of the private sector, energy and energy efficiency, sustainable urban development and good governance, the German Embassy in Tbilisi reports.

Khutsishvili signed a €24 million grant agreement with German state development bank KfW in June, which will help Georgia undertake a 'Biodiversity and Sustainable Local Development - Georgia' project.

Since the establishment of German-Georgian relations in 1992, Germany has supported Georgia with over €1.3 billion.