- Report from the Commission to the European Parliament and the Council on the implementation of macro-financial assistance to third countries in 2016, June 2017, p.7-8
- Commission Staff Working Document Background analysis per beneficiary country accompanying the Report from the Commission to the European Parliament and the Council on the implementation of macro-financial assistance to third countries in 2016, June 2017, p. 5-8
- Association Implementation Report on Georgia, 25 November 2016
On 29 September 2017, the European Commission proposed a new Macro-Financial Assistance (MFA) programme to Georgia of up to EUR 45 million. Of the total amount, up to EUR 10 million would be provided in the form of grants and up to EUR 35 million in loans.
The proposed MFA, which requires adoption by the European Parliament and the Council before it can enter into force and disbursements can be made, would help Georgia cover part of its external financing needs over the coming years. It would accompany the country’s programme with the International Monetary Fund, approved on 12 April 2017. The MFA would thus contribute to reducing the economy’s short-term balance of payments and fiscal vulnerabilities.
The proposed MFA operation is the third one since Georgia’s military conflict with Russia in August 2008. In October 2008, the EU pledged two MFA operations of EUR 46 million each at the International Donors’ Conference in Brussels. The first of those operations (EUR 46 million, fully in the form of grants) was implemented in 2009-2010 and the second (again EUR 46 million - half in grants and half loans) in 2015-2017. The last tranche of the second operation was disbursed in May 2017.
- Proposal for EU Macro-Financial Assistance to Georgia
- Ex-ante evaluation statement Macro-Financial Assistance to Georgia
- Decision of the European Parliament and of the Council of 12 August 2013 providing further macro-financial assistance to Georgia (EUR 46 million)
- Memorandum of Understanding between the European Union and Georgia
- 29 September 2017: Commission proposes fresh macro-financial assistance to Georgia of up to EUR 45 million
- 28 April 2017: European Commission approves disbursement of EUR 23 million in assistance to Georgia
- 21 April 2015: EU-Georgia: Commission disburses EUR 10 million assistance
- 27 January 2015: Georgia: EU disburses EUR13 million grant in Macro-Financial Assistance
- 11 December 2014: Commissioner Moscovici signs Memorandum of Understanding on Macro-Financial Assistance for Georgia
Related EU Policies and Activities
The links below provide additional information on EU-Georgia relations: