(BRUSSELS) - The European Commission on Monday announced 500 million euros (712 million dollars) in aid to help Georgia rebuild following its conflict with Russia.

The EU's executive arm "has drawn up a stabilisation and growth package of 500 million euros for the period 2008-2010," said Christiane Hohmann, spokeswoman for EU External Relations Commissioner Benita Ferrero-Waldner.

"That includes the continuation of the normal programme for Georgia, assistance for displaced people, reconstruction, relaunching the economy, macro-financial stability plus new infrastructure, especially in the energy sector," she added.

Georgia normally receives between 30 and 40 million euros per year from the European Commission under the EU's "neighbourhood" programme.

However the European Union has promised to help the former Soviet republic following its battle against Russia for control of its breakaway region of South Ossetia last month.

The Europeans are also set to organise a donors conference for Georgia.

The United States has already said it will provide a billion dollars of aid to Georgia, most of it this year.

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