European Council Approves €45 million in Financial Assistance to Georgia
European Council adopted a decision providing up to €45 million in macro-financial assistance to Georgia.
The assistance will help cover Georgia’s financing needs, supporting economic stabilisation and its agenda for structural reforms.
Macro-financial assistance is a form or financial aid extended by the EU uses to partner countries with balance of payments difficulties. It is only available to countries benefiting from support from the IMF. This is the third operation for Georgia.
The EU’s first two macro-financial assistance operations, amounting to €46 million each, were pledged at an international donors’ conference in October 2008. The EU also provides assistance under its neighbourhood policy.