U.S. Pledges 1 Billion Dollars in Assistance to Georgia

September 5, 2008

President Bush has announced that the U.S. applauds the actions taken by the European Union, including those by Slovakia, to bring humanitarian assistance to Georgia. As part of this international effort, the United States has committed $1 billion in additional economic assistance to meet Georgia’s humanitarian needs and to support its economic recovery. More than half of the U.S. funds will be made available in the near term and will support reconstruction efforts in Georgia, assist the Government of Georgia in leading the nation’s recovery, and meet ongoing humanitarian needs, including the resettlement of displaced families. The balance of the funds, together with assistance from the European Union and other partners, will help the Government of Georgia rebuild critical infrastructure and help local communities and businesses get back on their feet. U.S. Trade Representative Susan Schwab will take steps to expand trade and investment in Georgia, by negotiating an enhanced bilateral investment treaty and expanding preferential access to the U.S. market for Georgian exports. Secretary of Commerce Gutierrez will assist U.S. firms interested in trade and investment in Georgia and dispatch a trade mission to Georgia in the coming weeks. Secretary of Transportation Peters will make available risk insurance to support U.S. maritime commerce with Georgia. Secretary of the Treasury Paulson will continue to lead our efforts to coordinate assistance efforts with international financial institutions, and Secretaries Rice and Gates will continue to coordinate with our international partners to ensure that our aid is delivered swiftly to those who need it most. Georgia has a strong economic foundation and leaders with an impressive record of reform. Our additional economic assistance will help the people of Georgia recover from the assault on their country, and continue to build a prosperous and competitive economy.

• Read President Bush’s statement(PDF)
• Fact Sheet on U.S. Assistance to Georgia(PDF)