The Finance and Budget Committee has endorsed ratification documents on additional funding for the COVID-19 Response Project.
"According to the loan agreement signed between Georgia and the International Bank for Reconstruction and Development (additional funding for the rapid response project against COVID-19), additional funding of 28.7 million EUR is received. The funds will be spent directly on healthcare.
As the Deputy Minister of Finance Giorgi Kakauridze explained, last year an agreement was signed with the World Bank for 73 million EUR, which was directed within the framework of the anti-crisis plan in the field of health and social assistance.
According to the submitted ratification document, additional funding of 28.7 million EUR will mainly be used to purchase the vaccine and to finance vaccination-related activities.
The Committee also agreed on the technical amendment to the Second Ratification Document submitted by the Government, "Amendment N1 on the Loan Agreement between Georgia and the International Bank for Reconstruction and Development (COVID-19 Rapid Response Project) on 1 May 2020". Under the amendment, the money allocated to the COVID-19 Rapid Response Project will go directly to the purchase of vaccines.
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