The agreement signed between the Republic of Georgia’s Ministry of Finance and the French Development Agency will be sent to the Georgian Parliament for ratification as stipulated. It was signed to enhance cooperation between both sides in several fields.
It is to be specifically mentioned that the Government of Georgia in cooperation with the International financial Institutes is implementing a number of investment projects. Some main projects will include the construction of roads as well as energy, water infrastructure, irrigation systems, and other infrastructural areas.
Moreover loan agreements for investment projects are prepared regularly and include a range of procedures both on the part of the donor and to protect the rules set by Georgian law such as authorization, ratification, etc. The Georgian Government is fully dedicated to these investment projects and finding appropriate financing instruments. It is getting financial help from many other agencies including international and bilateral partners.
According to the information available so far the loan agreement for the Khashuri water project with the French Development Agency (AFD) for the Improvement of the water supply and water supply services of the city of Khashuri and surrounding settlements was signed on July 31, 2020. The total amount of the project was a loan of 58 million euros from which 21.4 million euros have been transferred for the completed works.
The resources needed for the project’s second stage have been prepared. According to the procedures established by both parties they will consider financing the second stage with a loan of 30 million euros.The Georgian Government’s decision on August 15, 2024 means giving consent to the Ministry of Finance of Georgia to enter into a credit agreement which is a formal procedure provided by Georgian law.
The agreement between the parties mentioned was discussed before the issuance of the Georgian government’s provisions and as of today both sides have signed it. As stipulated the contract will be sent to the Parliament of Georgia for ratification
