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EU to allocate â‚¬46 mln financial assistance to Georgia

EU to allocate â‚¬46 mln financial assistance to Georgia

24 January 2012 15:29 (UTC +04:00)

Baku - APA-Economics. The European Council adopted a preliminary decision to grant â‚¬46 million financial assistance to Georgia in order to stabilize the national economy and balance of payments, RIA Novosti reported.

The draft decision on the allocation of EU funds in the country now goes for approval to the European Parliament, and then finally it will need the approval of the EU Council.

Note that, the economy of Georgia is in crisis since the third quarter of 2008. In general, the EU has promised Georgia a financial assistance amounting to 500 million euros.

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