EU offers Georgia ˆ6 million to implement DCFTA

Georgia has received ˆ6 million from the European Union (EU) that will help the country implement the Association Agreement (AA), particularly the Deep and Comprehensive Free Trade Area (DCFTA).

The money was the first tranche of the Budget Support component of a larger ˆ45 million EU-funded program to support the EU-Georgia DCFTA and Small and Medium-sized Enterprises (SMEs).

Georgia should use the ˆ6 million to implement trade policy reforms and adopt an SME strategy. The money should also fund the continuing implementation of macroeconomic policies, public financial management and budget transparency.

Earlier the EU concluded Georgia had met the conditions set out for the payment of this first fixed tranche and the Government of Georgia had a "firm commitment” to implement both DCFTA and SME related reforms. (Agenda.ge)