The Government of Georgia plans to take 4.47 bln GEL as a new loan due to the COVID-19 crisis.
As Georgian Deputy Finance Minister Giorgi Kakauridze said, credits and grants are mobilized, including 330 mln GEL from the EU.
''A total of 4 bln 470 mln GEL has already been additionally mobilized as the credit. The IMF has transferred more than 600 mln GEL in the beginning of June. As for the other donors, we are waiting for 455 mln GEL from the Asian Development Bank,'' he said.
Following the 2020 anti-crisis budget, the emergency sponsorship will be as follows:
- Asian Development Bank (ADB) - 1.455 bln GEL
- KFW - 805 mln GEL
- IMF - 603 mln GEL
- Asian Infrastructure Investment Bank - 450 mln GEL
- France Development Bank - 439 mln GEL
- World Bank - 396 mln GEL
- EU - 241 mln GEL
Notably, Georgia's Gross Domestic Product will be 50.3 bln GEL instead of the projected 53 bln GEL.
The government debt, in terms of GDP, is 55.7%.
As Deputy Finance Minister Kakauridze says, Georgia takes the loans to be ready for 'a worse scenario.'
Bela Gelashvili
News Author