Agreement with German KfW bank has been certified by the Parliament today. The agreement envisages handing over obligation on KfW-allocated credit for emergency rehabilitation in Georgian energy sector.
According to the document, liabilities to KfW will be covered by Finance Ministry instead of National Bank (NBG).
KfW allocated credit of 42.44 million EUR in 1995-96 for emergency rehabilitation works in Georgian energy sector. It should be covered in 2007-2008. Last year Georgian government signed the memorandum with NBG, according to which assets and liabilities of the latter were passed to the Finance Ministry. Moreover, trilateral agreement was signed as well (KfW, NBG and Finance Ministry).
