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Georgia receiving donor assistance

By Messenger Staff
Thursday, March 5
Georgia is receiving the promised USD 4.5 billion assistance from donor organizations step by step. On December 31, 2008 the Georgian Government signed a document confirming that Georgia will receive in the near future USD 1.35 billion, 10.5% of the target GDP of 2009. This amount will be disbursed to state bodies as well as the private sector.

Many programmes are already projected and agreements have been concluded. In 2009 Georgia will receive USD 2.39 million in total, 53% of the overall assistance promised. Currently the Georgian Government is negotiating the conditions under which it will receive a promised USD 760 million.

This assistance will partly substitute the direct foreign investments which have dramatically decreased recently due to the economic crisis after the August war. In 2004-2008 foreign investments altogether reached around USD 6 billion. In the first nine months of 2008 direct investments were more than USD 1 billion.