TBILISI. Feb 14 (Interfax) - The Chinese government will provide Georgia 100 million yuan (approximately $15 million) in grant aid under the economic and technical cooperation agreement it signed with the Georgian government, the Georgian Finance Ministry said.
The money will be used to help Georgia acquire systems needed to enhance customs control on its borders, the ministry said.
The agreement was signed in Tbilisi by Georgian Finance Minister Ivane Matchavariani and Chinese Ambassador Ji Yanchi on Wednesday, it said.
"This money will be used to buy equipment needed to carry out fast, targeted customs control, avoid potential threats on the border, and enhance security. It will also shorten the time required for customs procedures, which will help develop effective trade cooperation," the ministry said.
The Chinese government has provided Georgia $62 million in financial aid in the form of grants used in a variety of projects and almost $5 million in the form of privileged commodity credit since 2005.
China is among Georgia's top trade partners and investors. Trade between the two countries totaled $1,031,600,000 (8.3% of Georgia's foreign trade) in 2018. In January-September 2018, China invested $81.6 million (8.2% of total direct foreign investment) in the Georgian economy, ranking fourth among key investors in the country.