24.Jun .2022 11:00

How Much Financial Assistance Did Georgia Get From The EU In 2007 -2021?

How Much Financial Assistance Did Georgia Get From The EU In 2007 -2021?
views 459

Since 1992, with the establishment of diplomatic relations between Georgia and the European Union, the EU has supported Georgia through a wide range of instruments and has become the biggest donor to Georgia.

Under the Multiannual Financial Framework (MFF), the total amount of EU assistance to Georgia exceeds billion euros. In addition, the EU helps the country with separate programs, grants, soft loans and financial instruments.

The last seven-year cycle of the MFF, which covers the years 2014-2020, was focused on the economic development of Georgia, the development of state institutions, social challenges and the implementation of infrastructure projects. Under the multiannual framework for 2014-2020, Georgia received financial assistance of 819.2 million euros (2.5 billion GEL) from the EU.

Under the MFF for 2007-2013, Georgia received € 452 million (GEL 1.4 billion) in assistance. In this case, the EU's top priority was to promote democratic governance and the rule of law in Georgia; In addition, the EU has assisted Georgia in attracting investment, regional development, social projects and reforms.

According to the information provided to Forbes Georgia by the EU Delegation, the current cycle of the MFF, which covers the years 2021-2027, has not been fully agreed yet, therefore, it is still too early to talk about future funding.

In addition to bilateral assistance, Georgia also receives macro-financial assistance from the European Union, including grants and soft loans. Under this program, Georgia received € 75 million in 2021, and the government refused to accept another € 75 million tranche; The amount of aid received in 2020 was 75 million euros, while in 2018-2019 Georgia received € 45 million; In 2011-2015, Georgia received 46-46 million euros from the EU.

In addition to the above projects, Georgia received an additional € 250 million from the European Union to deal with the Covid-Pandemic.