Western Nations Step Up to Aid Georgia

A global donors’ meeting on Wednesday pledged 4.55 billion dollars (3.5 billion euros) in aid to conflict-stricken Georgia, much higher than anticipated, the EU commission announced.

The sum included 2.8 billion euros of public funding to meet Georgia’s  urgent post-conflict “and priority investment needs”.

… The meeting, attended by 67 nations and financial institutions, was co-hosted by the EU and the World Bank.

The pledged grants and loans, some of which had been made previously, beat most of the predictions amid a global financial crisis.

Georgian Prime Minister Lado Gurgenidze, who attended the conference, told reporters that his country was “deeply moved and humbled by the demonstration of solidarity that we have received.”

The United States, pledging a billion dollars over three years, was the biggest benefactor, followed by substantial donations from the International Monetary Fund, the European Commission and Japan.

via AFP: Donors pledge 4.5 billion dollars to Georgia


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