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US sends one billion dollars in aid to Georgia

(Xinhua)
Updated: 2008-09-04 09:07

WASHINGTON  -- The United States will provide Georgia with a one-billion-dollar economic aid package, President George W. Bush announced Wednesday.

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"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," Bush said in a written statement.

More than half of the funds will be made available in the near term, Bush said in a statement.

US trade representative, Susan Schwab, will have negotiations with Tbilisi over an enhanced bilateral investment treaty and widen preferential access for exports from Georgia into the United States.

In addition, the US Commerce Department will send a trade mission in the coming weeks and the US Transportation Department will offer risk insurance for maritime commerce with Georgia, Bush said in the statement.