2018-05-10
As the Declaration of Intent to be signed between the Government of Georgia, Germany's Reconstruction Credit Bank (KfW), and French Development Agency (AFD) reads, Georgia is implementing important reforms toward energy market development and energy security.
As the Prime Minister of Georgia stated during today's Government meeting, the development of the energy sector and the empowerment and strengthening of energy security is strategically vital for the country. This is why concrete steps must be taken in this direction, including the adoption of the national energy security action plan, which is prescribed by Georgia's accession to the Energy Community of Europe.
"It is important that the program designed to support the reform to be implemented by the Ministry of Economy and the Ministry of Energy covers the years 2018-2021. The agreements to be signed with European partners will foster the implementation of such projects as the development of the competitive market of electrical energy, Georgia's transformation into an electrical energy hub, the development of renewable energy, the adoption of an energy efficiency framework, and significant regulation of this industry, which I believe is the core foundation of a competitive market. We must admit that we have a significant development reserve in this direction today, and these are the very steps involved in these activities. After the implementation of planned activities, maybe as early as this year, the KfW and the AFD will allocate to Georgia 49 million euro and 25 million euro in financial resources, respectively," Giorgi Kvirikashvili emphasized.
Prime Minister's Press Office