A grant agreement on the support of social protection of vulnerable families struck by the COVID-19 pandemic of 3 million EUR funded by the German Government has been signed on November 30, 2021, by the Minister of Finance, Lasha Khutsishvili, and the Director of KfW’s South Caucasus Office, Birgit Holderied-Kreß.
The grant is provided in addition to last year’s COVID-19 Emergency Support from Germany, which consisted of a EUR 5.8 million grant and a EUR 15 million subsidized loan targeted to alleviate the economic consequences of many Georgian families that lost their income due to the COVID-19 pandemic.
With the increased grant amount it is expected to finance more than 135,000 social security payments to vulnerable households. At the same time, the loan amount provided in 2020 allowed to finance more than 280,000 unemployment assistance payments to eligible beneficiaries. This support will not only contribute to the social protection of countless families but also to the strengthening of the social security system itself.
