On 24 November, the state-owned banks KfW (Germany) and AFD (France), and the EU signed a declaration with the Georgian government for a multi-year reform programme called the ‘Green Transition for Georgia’.
The policy reform programme includes eleven reform areas that focus on green transition themes, ranging from renewable energy, green hydrogen, carbon pricing, smart mobility, pollution control and sustainable finance.
The programme is designed as a policy-based lending mechanism where Georgia receives concessional budgetary funding in exchange for the successful implementation of EU policies it has committed to and which will increasingly bring the country into line with EU standards.
‘Green Transition for Georgia’ is the successor programme of the ‘Georgian Energy Sector Reform Programme’ that France through AFD, Germany through KfW and the EU have implemented together with the Georgian government between 2018 and 2023.
Under the first programme, AFD and KfW invested €641 million, with EU support in the form of grants for technical assistance amounting to €8.5 million.
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