Georgia: EU approves first payment of budget support to DCFTA and SMEs

Georgia: EU approves first payment of budget support to DCFTA and SMEs

Georgia: EU approves first payment of budget support to DCFTA and SMEs

The FINANCIAL -- The EU has approved the disbursement of €6 million to the Georgian state budget, the first tranche of the Budget Support component of the €45 million EU funded Programme of support to the EU-Georgia Deep and Comprehensive Free Trade Area (DCFTA) and Small and Medium sized Enterprises.

The Programme is a clear signal of the EU's determination to support Georgia in the implementation of the Association Agreement and DCFTA, while promoting SMEs as a way to foster a sustainable economic development and inclusive economic growth, according to EU Neighbourhood Info.
 
The disbursement of subsequent tranches under the Programme will be conditional on the implementation of trade policy reforms, the adoption of an SME strategy, as well as on the continuous satisfactory track record of implementing macroeconomic policies, public financial management and budget transparency.