Page 20 - GEORptFeb21

Georgia expecting S1.5bn in financing from IFIs this year says PM
Local governments and residents in seven municipalities in Tianeti and Kakheti in the east and Guria province in the west of Georgia will be involved in operating small-sized processing plants to produce the biofuels.
The Green Climate Fund grant will be provided to institutions in Georgia through the German Federal Enterprise for International Cooperation (GIZ), which is also involved in ECOserve, a project of management of natural resources and safeguarding of ecosystem services for sustainable rural development in the South Caucasus.
GCF has provided total financing of about $107mn to Georgia through four projects so far.
The European Union, International Monetary Fund (IMF), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), German Development Fund and French Development Agency will provide Georgia with $1.5bn in financing by the end of 2020, according to Georgian Prime Minister Giorgi Gakharia.
"Besides [this financing], the private sector is providing another $1.5bn. The same donor organisations are ready to assist the private sector of Georgia if help is needed. This enables us to start real work on a post [pandemic] crisis economic recovery plan together with our economic team and our international donor organisations. I am sure Georgia will be able to attract more financial resources", the PM said.
4.4 ​Labour and income
4.4.1​ Unemployment, income dynamics
Labour market assistance from COVID-19
Georgian Prime Minister Giorgi Gakharia on April 24 unveiled a Georgian lari (GEL) 3.5bn ($1.1bn, equivalent to 7% of GDP) anti-crisis plan to mitigate the economic and social effects of the coronavirus (COVID-19) outbreak.
According to the PM, 350,000 citizens will be entitled to receive targeted financial assistance, “the bare minimum of what the Georgian Government could offer today to each of its citizens.”
The employees who have lost their jobs during the pandemic will receive a monthly allowance amounting to GEL200 for six months ($375 in total).
Employees who have not been laid off during the pandemic and receive less than a GEL750 ($234) salary, will be exempted from income tax for the next six months. For those who earn less than GEL1,500 ($469), income tax will only apply to a GEL750 ($234) tax base.
Self-employed people or jobless persons able to prove they have lost income due to the pandemic will receive GEL300 ($94) as one-off assistance. Socially deprived groups (320,000 people), as well as adults and children with disabilities (40,000 people), will be entitled to GEL600 ($188) financial assistance for the next six months.
20​ GEORGIA Country Report​ February 2021 ​ ​www.intellinews.com