Donors Pledge $1 bln for Georgia
International donors from 31 countries and 12 organizations, gathered in Brussels at the Donors? Conference on June 16-17 in support to Georgia, pledged to provide around $ 1 billion to Georgia to meet urgent needs of Georgia for the period 2004-2006.
The amount pledged by the donors is aimed for budget support, investments in energy, governance, poverty reduction, key infrastructure rehabilitation and food security.
In a joint press release issued by the European Commission and World Bank, financial assistance of $ 1 billion is described, as ?an extremely generous sign of support for the new government of Georgia.?
On June 16 Georgian Prime Minister Zurab Zhvania presented at the conference Georgian government?s reforms and development agenda, which outlined priorities of financial assistance. According to this document Georgia requested $485 million for the period 2004-2006.
International donors noted at the conference that ?the solid progress is expected to be made in the July Paris Club meeting for further concessionary restructuring external debt of Georgia,? which amounts roughly $1,7 billion.
Participants of the conference also noted that new challenges also are emerging for Georgia following its inclusion in the European Neighborhood Policy on June 14.
They noted ?the need to emphasize on governance, and for civil society development to create demand for good governance.?
