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EU’s Economic and Investment Plan

An economic and investment plan for the eastern partnership – investing in resilient and competitive economies and societies

On 2 June 2021, the European Commission and the EU High Representative for Foreign Affairs and Security Policy outlined a proposal on how to take forward priorities for cooperation with the EU’s Eastern partners in the years to come. This agenda is based on five long-term objectives, with resilience at its core, as defined for the future of the Eastern Partnership in March 2020. These five objectives are:

  • together for resilient, sustainable and integrated economies;
  • together for accountable institutions, the rule of law and security;
  • together towards environmental and climate resilience;
  • together for a resilient digital transformation; and
  • together for resilient, fair and inclusive societies.

The objectives will be underpinned by a €2.3 billion Economic and Investment plan in grants, blending and guarantees, with a potential to mobilise up to €17 billion in public and private investments. This proposal will contribute to the discussions on the future Eastern Partnership policy, including at the Eastern Partnership summit planned for December 2021.

The comprehensive agenda aims at increasing trade, growth and jobs, investing in connectivity, strengthening democratic institutions and the rule of law, supporting the green and digital transitions, and promoting fair, gender-equal and inclusive societies.

What does it mean for Georgia?

The Economic and Investment plan contains a set of flagship initiatives for each of the six Eastern Partnership Countries. These are concrete priority projects, with tangible results, that have been identified jointly with the partner countries, taking into account their priorities, needs and ambitions. For Georgia, these are:

Flagship 1: Black Sea connectivity – improving data and energy connections with the EU

The Flagship on Black Sea Connectivity will further integrate the Georgian market with the EU market through the deployment of a submarine fibre optic cable. Citizens will benefit from a faster and more stable direct internet connection between Georgia and the EU.

Flagship 2: Transport connectivity across the Black Sea – improving physical connections with the EU

One step to closer ties between Georgia and the EU Member States is increasing and reinforcing direct transport connections in the Black Sea. This involves developing new ferry/feeder services and refurbishing ports, which will promote trade in goods and facilitate the movement of people. Improved connections will boost trade and economic cooperation, and strengthen Georgia’s role as a bridge between Europe and Asia.

Flagship 3: Sustainable economic recovery – helping 80 000 SMEs to reap the full benefits of the DCFTA

This will provide support for 80 000 Georgian Small and Medium Enterprises, including equity investments to accelerate their integration into wider EU value chains. This will contribute to diversification of trade between the EU and Georgia. In order to reap the full potential of the DCFTA, the private sector needs technical support to adapt to the DCFTA requirements Therefore, the EU will also invest in flanking measures to develop the SPS/food-testing system.

Flagship 4: Digital connectivity for citizens – high-speed broadband infrastructure for 1 000 rural settlements

This flagship will reduce digital inequalities by developing high-speed broadband infrastructure for around 1.000 rural settlements and strengthening ‘last-mile’ connectivity. This will contribute to economic development and recovery, while promoting digital inclusion in line with the national broadband strategy.

Flagship 5: Improved air quality – cleaner air for over 1 million people in Tbilisi

In coming years, the EU will work on improving air quality monitoring in Georgia by installing air monitoring equipment and building capacity. This flagship will contribute to investment in green and sustainable urban transport in Tbilisi by building two urban cable-car lines. The investment will contribute significantly to the reduction of car traffic, one of the main sources of air pollution in Tbilisi.

More information:

Joint Staff Working Document: Recovery, resilience and reform: post 2020 Eastern Partnership priorities   

Joint Communication: Eastern Partnership policy beyond 2020: Reinforcing Resilience – an Eastern Partnership that delivers for all

Factsheet future priorities

Factsheet achievements 20 deliverables for 2020

Q&A: The Eastern Partnership post 2020 priorities