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Friday, April 28, 2017

Disbursement of 23 million euros in assistance to Georgia

Enlargement, Economy - Finances, Trade,-,

News Today the European Commissionhas approved the disbursement of the second tranche of 23 million euro under its Macro-Financial Assistance (MFA) to Georgia. It is part of European Neighbourhood Instrument and it will be disbursed in May 2017.

This is the final instalment of the second of two MFA operations, each in an amount of 46 million euro. The first one was fully disbursed in 2009-2010.

The EU's MFA programme was intended to strengthen Georgia's external and budgetary positions and to support the government's agenda of economic, social and financial reforms. The policy programme attached to the EU's assistance, which was jointly agreed by Georgia and the EU in December 2014, included measures aimed at improving public finance management, fostering social inclusiveness and strengthening financial supervision. It also contained measures related to trade and competition policies, which aimed to help Georgia fully reap the benefits of the EU-Georgia Association Agreement (AA), including a Deep and Comprehensive Free Trade Area (DCFTA), which was signed in 2014, provisionally applied from September 2014 and entered into force in July 2016.

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Source :  Press room - European Commission


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