Denmark has increased its annual financial support for Georgia from the current 5 million Danish kroner (917,000 U.S. dollars) to 25 million kroner to support the country' s democratic and economic development.
The Danish government made the decision after Georgia signed the Association Agreement and Deep and Comprehensive Free Trade Area Friday, which is aimed at deepening political and economic ties with the EU.
"Georgia, like Ukraine and Moldova with the signing on Friday, sent an important signal that they want closer ties with the EU," said Danish Trade and Development Minister Mogens Jensen in a statement Wednesday.
Jensen praised the signing of the agreements, saying it is natural to increase support for Georgia as good performance should be rewarded.
"We must contribute to a peaceful and stable Europe of freedom and prosperity by supporting the development of democratic society with responsible authorities, active civil society and well-functioning markets," he said.
Denmark supports development endeavors in Ukraine, Georgia and Moldova through the government's Neighborhood Program with former Eastern Bloc countries.