EU disburses €10 million in loans for Georgia

EU disburses €10 million in loans for Georgia

The FINANCIAL -- The EU on April 21 disbursed €10 million in loans to Georgia – the loan part of the first tranche of €46 million in Macro-Financial Assistance (MFA) for Georgia approved in August 2013, according to EU Neighbourhood Info Centre.

Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxations and Customs described the loans as a sign of Europe's support to Georgia: "The assistance should alleviate the country's financing constraints, underpin macroeconomic stability and support the government’s growth-enhancing and socially inclusive reform agenda."
The MFA programme is intended to strengthen Georgia's balance of payments and budgetary position and to support reforms in public finance management, social policy, and banking supervision. It is also intended to support measures in trade and competition policy aimed at implementing the free trade agreement with the EU.