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Council Decision of 30 November 2009 providing macro-financial assistance to Georgia (2009/889/EC)

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U.K.

Council Decision

of 30 November 2009

providing macro-financial assistance to Georgia

(2009/889/EC)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European Community, and in particular Article 308 thereof,

Having regard to the proposal from the Commission,

Having regard to the Opinion of the European Parliament,

After consulting the Economic and Financial Committee,

Whereas:

(1) Relations between Georgia and the European Union (EU) are developing within the framework of the European Neighbourhood Policy, which is enhanced by the newly launched Eastern Partnership.

(2) The extraordinary European Council of 1 September 2008 confirmed the EU’s willingness to strengthen EU-Georgia relations in the aftermath of the armed conflict in August 2008 between Georgia and Russia.

(3) Georgia’s economic stabilisation and recovery is supported by the International Monetary Fund (IMF) through a Stand-By Arrangement which was approved on 15 September 2008.

(4) At a donors’ conference held on 22 October 2008, the international community pledged support to Georgia’s economic recovery in line with the Joint Needs Assessment carried out by the United Nations and the World Bank.

(5) The European Community announced up to EUR 500 million in assistance to Georgia in 2008-2010.

(6) Given that a substantial residual financing gap remains in the balance of payments in 2009-2010, macro-financial assistance is included in the Community package to Georgia.

(7) In order to ensure efficient protection of the Community’s financial interests linked to the present financial assistance, it is necessary to provide for appropriate measures by Georgia related to the prevention of, and the fight against, fraud, corruption and any other irregularities linked to this assistance, as well as for controls by the Commission and audits by the Court of Auditors.

(8) The release of the Community financial assistance is without prejudice to the powers of the budgetary authority.

(9) This assistance should be managed by the Commission in consultation with the Economic and Financial Committee.

(10) The Treaty does not provide for the adoption of this Decision powers other than those of Article 308,

HAS DECIDED AS FOLLOWS:

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