Georgian Finance Minister Ivane
Machavariani, who is paying a visit to
Germany, has signed an agreement with a German government-owned
development bank (KfW) on the allocation of a
loan of 120 million euros which will be
used for energy projects.
In particular, 60 million will
be spent on the second phase of the energy sector’s reform as well as on upgrading
the water supply infrastructure in Batumi.
Apart from that, a grant of 60 million euros was
allocated to introduce energy-saving
standards in construction.
The state energy sector has
recently seen huge losses.
Georgian State Electrosystem
2018 with losses amounting to GEL 6 million which is not surprising as the
director’s salary is GEL 21,000 per