EU support for Georgia: green light for new programme to support free trade deal and SMEs

EU support for Georgia: green light for new programme to support free trade deal and SMEs

EU support for Georgia: green light for new programme to support free trade deal and SMEs

The FINANCIAL -- EU Commissioner for Neighbourhood Policy Johannes Hahn and Georgian Prime Minister Irakli Garibashvili signed a Financing Agreement for a new programme to help Georgia implement the Deep and Comprehensive Free Trade Area (DCFTA) and promote private sector development, according to EU Neighbourhood Info.

The new programme – worth EUR 44.5 million over three years – will focus on:

strengthening the policy framework for trade and the development of SMEs;

improving the functioning of institutions regulating and supporting trade and private-sector;

strengthening economic actors and SMEs adjusting to the new regulatory environment;

economic integration of returned migrants, women in business and young entrepreneurs.

This programme is complemented by the DCFTA Facility for SMEs, a regional initiative of the EU and the European Financing Institutions aimed at mobilising EUR 150 million of EU grant to unlock some EUR 1.5 billion of investments in the SMEs of Georgia, Moldova and Ukraine, according to EU Neighbourhood Info.