Georgia to receive $40mln for reforms

Georgia will receive additional $40 million to conduct reforms. This is envisaged in an agreement between Georgia and International Development Association on financing (the third phase of development policy), which has been submitted to the Parliament for ratification.

The agreement implies to allocate a soft loan to Georgia in support of the state budget. The loan shall be provided within in the third phase of the program for 25 years.

The first and second phases were carried out in 2009-2010 and then $90 and $51 million was allocated. Committees on European integration and affairs of compatriots supported ratification of the agreement yesterday.


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