Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-469-000"
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"en.20110510.60.2-469-000"2
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"Georgia faces series financial problems following the armed conflict with Russia in 2008 and the impact of the global financial crisis. Back in January of this year, the EU approved a EUR 46 million aid package for Georgia, of which EUR 23 million is to be paid as a loan and a further EUR 23 million in the form of a grant to the country. The EUR 46 million forms part of an EU financial aid package worth around EUR 500 million which was approved by the EU back in October 2008. This second tranche of the EU’s macro-financial assistance – the first having been implemented back in 2009-2010 – is intended to help Georgia meet its external financing requirement and is subject to strict conditions. Initial signs of its success can already be seen in the fact that real GDP grew by 6.3% in 2010, providing evidence of a revival of the economy.
Nonetheless, it should be stated that there are indications that the money is not being used efficiently enough. In view of the budgetary situation of most EU Member States, this is unacceptable. Although I am fundamentally in favour of the financial assistance, I therefore abstained from voting in the final vote."@en1
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