A grant agreement was signed on November 30 between Georgian Finance Minister Lasha Khutsishvili and the German Development Bank’s (KfW) South Caucasus Office Director Birgit Holderied-Kress.

The grant is part of the COVID-19 Emergency Support from Germany 2020 which included a €5.8 million grant and a €15 million subsidized loan. The purpose of the assistance is to alleviate economic consequences for the Georgian families who lost their income due to the pandemic.

The Embassy also says that the loan amount provided in 2020 allowed the financing of more than 280,000 unemployment assistance payments to eligible beneficiaries.’

KfW Development Bank has been operating in Georgia since 1993, supporting the projects in the energy sector, the promotion of sustainable urban development, the protection of the environment and natural resources, and vocational training.