The Agreement on Stabilizing the Economy by Supporting the Energy Sector Reform was signed today by and between Georgia and Kreditanstalt für Wiederaufbau (KfW).

Signatories of the document are H.E. Lasha Khutsishvili, Minister of Finance of Georgia and Birgit Holderied-Kreß, Director of KfW Office in Tbilisi.

H.E. Ernst Peter Fischer, Ambassador Extraordimary and Plenipotentiary of the Federal Republic of Germany to Georgia attended the event.

The agreement envisages the implementation of Phase 5 of the Energy Sector Reform which provides support for the sector-specific initiatives planned by Government of Georgia. With this commitment, authorities of the country will continue strides towards using the full potential of renewable energy, energy efficiency and a market-driven power market.