Georgia to direct EU aid to socio-economic reforms
By Jamila Babayeva
Georgian government will spend the EU's financial aid in the amount of 27 million euros on reforms.
"The main purpose of the project is to assist the country's government in overcoming the poverty and improving the socio-economic situation" the Cabinet of Ministers reported.
The funds will be received through Eastern Partnership Integration and Cooperation (EAPIC) program. The money allocated by the European Union will be spent on reforms in the sphere of vocational education, retraining and employment.
Some 20 million euros of the allocated amount will be forwarded directly to the state budget, and the remaining seven million euros - for the implementation of technical and expert support programs.
European Commissioner for Enlargement and Neighborhood Policy Stefan Fule announced about rendering the financial aid on December 12.
The "more for more" initiative, within which the aid will be allocated, envisages financial assistance to EU partner countries, which have reached significant progress in implementation of democratic reforms.
The signing of the financial agreement has been scheduled for the second quarter of 2014.
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