The first high-level meeting between the European Commission and the Government of Georgia was held in Brussels on November 21, 2018. The meeting ended with concrete results out of which is financial agreement on Economic and Business Development in Georgia that was signed within the framework of the event.
The European Commission and the Government of Georgia have agreed to further enhance the relationship through the signing of the Financial Agreement that is clear manifestation of the joint commitment to consolidate and further advance the cooperation from both sides with regard to economic and business development of Georgia.
The overall objective of the programme “Support to Economic and Business Development in Georgia” is to foster socio-economic development in Georgia and its regions, while the specific objectives are addressed focuses on three thematic fields, like Fairer and faster litigations in commercial matters with expected results such as strengthened and rehabilitation-oriented insolvency proceedings; Modernized financial infrastructure that aims to achieve enhanced insurance system and capital market development; Greater business sophistication with the expected results strengthened policy framework to facilitate the development of SME, clusters and incubators, development and functioning of business accelerators/incubator, serving target regions and sectors.