The Parliament approved the Documents for Ratification
The Parliament discussed and approved the Loan and Grant Agreements aimimg at the improvement of the academic quality in schools of the mountainous regions and development of the social platform for the children.
The documents were introduced by the Deputy Economic Minister, Mzia Giorgobiani. As the Loan Agreement envisages, NEFCO is to allocate the loan of 3,9 ml EURO for the hereof project with the term of 10 years, where 3 years are preferential, and the interest rate depends on EURIBOR; the project shall be accomplished as of May 4, 2025.
As to the Grant Agreement, the E5P Foundation allocates the grant of 2,6 ml EURO to the Municipal Development Fund assigned for the project.