News & Analysis

Germany offers Georgia 160 million-euro investment boost

The German government will provide Georgia with 161.7 million euros to support investment projects in the country, Georgia’s finance ministry has told Georgian news agency InterPressNews.

According to an agreement signed by Karin Jahr de Guerrero, the head of the German economic cooperation and development ministry’s Eastern Europe and South Caucasus department and Georgian deputy finance minister Nikoloz Gagua, Germany will finance projects in energy efficiency, environmental protection, vocational education and municipal infrastructure.

Of the 161.7 million euros, 140 million will be provided as a loan and 21.7 million as a grant.