MEPs approves financial assistance to Georgia

The European Parliament has approved a macro-financial assistance to Georgia which means a second financial assistance package to this country (46 million Euro). The approval has been done using the co-decision procedure in the 1st reading and a second reading will be necessary due to the differences with Council on how to to oversee the implementation of the aid.

The Council has proposed that it should have a debate in overseeing the release of funds. In technical terms, the Council argues for oversight through the "examination procedure", as opposed to the "advisory procedure". However, the macro-financial assistance is not controversial and it is the second half of a previous commitment by the EU.

Georgia thanks to this assistance would be offered half in grants and half in loans. The Parliament has argued that the release of funds should be dealt with in the same spirit as previous instances of EU macro-financial assistance under the Lisbon Treaty, and will therefore simply adopt the Commission proposal as is.