World Bank to disburse $50 million loan to Georgia

[July 01, 2020]  TBILISI (Reuters) - The World Bank Group has approved a 45 million euro ($50.4 million) loan for Georgia to help the country mitigate the economic impact of the COVID-19 pandemic.

The World Bank said that the loan was the second in a series of three lending operations as a part of its broader support for Georgia.

The first was a $80 million financial support package provided to address the health and social impact of the pandemic, while the third tranche will focus on small and medium enterprises and jobs affected by COVID-19.

The South Caucasus country of 3.7 million has already secured funds from other international financial institutions.

It has reported 931 cases of the coronavirus as of Wednesday, with 15 deaths.

(Reporting by Margarita Antidze; Editing by Jan Harvey)

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