The Foreign Relations Committee approved the Loan Agreement between Georgia and IBRD (Georgia Emergency COVID-19 Response Project), which was introduced by the Deputy Finance Minister, Giorgi Kakauridze.
The Project is aiming to prevent, identify and respond to the threats posed by the COVID-19 pandemic in Georgia.
According to the rapporteur, as part of the loan agreement, the IBRD will allocate 73,100,000 ml EURO with the term of 26 years, including 13 years preferential and with a fixed rate based on the Euribor interest rate type.
The project is composed of three parts and implies to assist the Georgian health sector and public health centers now engaged in COVID-19 response measures to increase epidemiological capacity, general testing and aptitude for critical medical devices and equipment as well as the expansion of access alongside with the financial support for the COVID-19 affected families and individuals.
The attendees also upheld the ratification of the Agreement by exchange of Notes between the Government of Georgia and the Government of Japan on Submission of Volunteers to Georgia within Japan Overseas Cooperation Volunteers Program.
The Agreement, which was introduced by the Foreign Deputy Minister, Khatuna Totladze, aims to promote Georgia's economic and social development, which will be implemented by the Japan International Cooperation Agency (JICA).
With the agreement of the parties, the volunteers will be able to provide assistance in the most vulnerable areas for the country: infrastructure, agriculture, education, sports, health, culture, etc.
The Program is backed by the Japan Development Agency.