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EU extends â‚¬4.55 million to Georgia

EU extends â‚¬4.55 million to Georgia

05 January 2010 10:04 (UTC +04:00)

Baku â€“ APA-Economics. The European Union has extended â‚¬4.55 million worth of the tranche to Georgia as part of the â‚¬15 million financial assistance approved to the countryâ€™s state budget for 2007-2010 for a programme that is intended to support reforms in the financial sector, said the EU Delegation to Georgia.

The third tranche was delivered in accordance with the agreement signed between the EU and the Government of Georgia in 2007.

Under the agreement, in addition to â‚¬15 million assistance, another â‚¬1 million will be made available as technical assistance.

The first tranche of â‚¬5 million was delivered in February 2008 and the second tranche of â‚¬4 million in December 2008.

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