Asian Development Bank signs deal with Georgia to reduce poverty, increase economic growth
"We are delighted to continue our strong partnership with the Government of Georgia to help develop the country and improve the lives of its people,” said ADB Country Director for Georgia Ms. Yesim Elhan-Kayalar. Photo: Nino Alavidze/Agenda.ge.
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The Asian Development Bank (ADB) and Georgian government have signed off on a framework to expand trade and create jobs in Georgia.
The 5-year country partnership strategy (CPS) will extend through 2023, and aims to reduce poverty in the country through the development of economic and transport corridors in Georgia from Central and the Middle East.
We are delighted to continue our strong partnership with the Government of Georgia to help develop the country and improve the lives of its people,” said ADB Country Director for Georgia Ms. Yesim Elhan-Kayalar.
The ultimate objective of the new CPS is to help develop the Caucasus as a gateway to the world and complement other regional cooperation initiatives in neighboring countries. The CPS is fully aligned with the Government of Georgia’s development strategy—Freedom, Rapid Development, Prosperity: Government Platform 2016–2020—and ADB’s Strategy 2030, both of which call for closer regional cooperation and integration,” said ADB Director General for Central and West Asia Mr. Werner Liepach.
The ADB has supported Georgia since 2007 and is one of the country’s largest multilateral development partners. In total, sovereign and non-sovereign loans of the ADB to Georgia is about $2.8 billion.
The Asian Development Bank (ADB) has approved a $415 million loan to Georgia to build a new highway as part of the Kvesheti–Kobi Road Project. The 23-kilometer bypass road is part of the North South Corridor, which connects Georgia, Russia, Armenia and other countries.
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Georgia is developing stably and it can be an example for many Asian countries, stated President of the Asian Development Bank (ADB) Takehiko Nakao at the press conference held on the sidelines of the 52rd ADB Annual Meeting in Fiji.
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Georgian Finance Minister Ivane Matchavariani has met with the president of Asian Development Bank (ADB) in Washington to discuss the economic development of Georgia and deepen cooperation between Georgia and ADB.
The Asian Development Bank (ADB) has approved a $278 million loan for Georgia to build and reconstruct 30 kilometres (km) of main and secondary roads between the towns of Shorapani and Argveta on Georgia’s East–West Highway.
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