The Committee discussed the Loan Agreement between KfW, Frankfurt am Main and the Finance Ministry of Georgia (debtor) (economic stabilization through the energy sector reform), introduced by the First Deputy Finance Minister, Giorgi Kakauridze; the Agreement envisages the allocation of the loan of 27 ml EURO; the reform under the Agreement is categorized into 6 phases and save energy, also covers the greening reform, which is envisaged under the phase 5 that is the target phase for the loan; the same aim is envisaged under yet another Loan Agreement between AFD (creditor) and Georgia (debtor).

As the reporter elucidated, the Georgian Finance Ministry, KfW, AFD and EUD concluded the declaration of intentions on “Multinational and International Cooperation with Georgia”, additional 2-year program on “Supporting Energy and Green Sector Reform of Georgia”, within which the 5th phase of the energy reform is to be undertaken in 2022 and AFD is committed to cooperating with Georgia. In this view, the loan of 60 ml EURO has been allocated, as the reporter added. The Committee approved the document.