EU acknowledges Georgia’s reforms, offers 140m lari
The European Union is offering 140 million lari (€48.1m) to Georgia in support of reforms, the Delegation of the EU to Georgia said.
The EU has transferred this non-reimbursable aid to Georgia in acknowledgement of commonly agreed reform progress in 2017 in several sectors: trade and business development, vocational education and employment, agriculture, integration of internally displaced people (IDPs).
Payments were also made for Georgia's justice sector, public administration, public finance management and regional development policy.
Budget support is an instrument for EU cooperation which involves direct financial transfers to the state budget of the partner country. Funds are transferred annually, and only when commonly agreed results are met, Agenda.ge reported.
If the EU considers performance on any of these points is insufficient, it withholds a part or the whole disbursement until credible reassurances or measures have been established.