L 25/28 Official Journal of the European Union 28.1.2006 (Acts whose publication is not obligatory) COUNCIL COUNCIL DECISION of 24 January 2006 providing macro-financial assistance to Georgia (2006/41/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 (%), Whereas: (1) By Decision 97/787[EC (%) the Council provided excep- tional financial assistance for Armenia and Georgia in the form of long-term loans and grants. (2) By Decision 2000/244[EC the Council provided excep- tional financial assistance for Tajikistan and extended the implementation period of the assistance to Armenia and Georgia until 2004. (3)  In case of Georgia, the objectives of the assistance have not been fully met, owing to an unsatisfactory economic policy environment in the country during most of the implementation period. (4) Therefore, only EUR 31,5 million of the total grant component of EUR 65 million for Georgia was (") Opinion delivered on 15.12.2005 (not yet published in the Official Journal). () OJ L 322, 25.11.1997, p. 37. Decision as amended by Decision 2000/244[EC (O] L 77, 28.3.2000, p. 11). committed and paid under the exceptional financial assistance. The present authorities of Georgia are committed to economic stabilisation and structural reforms, supported by the International Monetary Fund (IMF) through a three-year arrangement under the Poverty Reduction and Growth Facility (PRGF) which was approved on 4 June 2004 for a total amount of SDR 98 million. Subse- quently, the Paris Club creditors agreed on 21 July 2004 to a restructuring of Georgia’s bilateral official debt on the Houston terms. The new Government of Georgia also received strong support from the international community at the donors’ conference held in Brussels on 16 June 2004. The World Bank approved in June 2004 a USD 24 million Reform Support Credit, and will continue its assistance to Georgia under a new Country Partnership Strategy in the form of Poverty Reduction Support Operations. The Georgian authorities have expressed their intention to pursue early debt repayments to the Community with a view to improving debt sustainability. As EU-Georgia relations are developing within the framework of the European Neighbourhood Policy, which is expected to lead to deeper economic integration, Community support for the government’s economic reform programme is considered appropriate.