Georgia to host annual meeting of Asian Development Bank board of governors in 2024

The annual meeting of the Asian Development Bank (ADB) board of governors will be held in Georgia in 2024, announces Georgian Finance Minister Lasha Khutsishvili.

As chairman of the board of governors of the ADB, Khutsishvili has opened the sessions as part of the 54th ADB annual meeting which was held virtually on 3-5 May 2021.

This meeting was also planned to be held in the Georgian capital city of Tbilisi, however due to the global coronavirus pandemic the event was held virtually. 

In 2024, we will host this large-scale and important meeting in Tbilisi. I hope that for that time, we will jointly succeed in overcoming the global pandemic and the economic crisis... In this regard, the $20 billion package offered by the ADB to respond to the Covid-19 pandemic is important for member countries. This support was vital to macroeconomic stability, minimizing economic damage, and maintaining jobs.", Khutsishvili said in his speech at the session.

He said that in the post-pandemic period, economic and structural reforms should be continued and strengthened to promote economic growth, ensuring that the foundations of the economy are strengthened and resilient to shock.

We must maintain a policy of promoting regional cooperation and integration. Georgia supports the free trade policy. More integration, openness and low barriers are key factors in the world economic architecture, and that is what we need to focus on", Khutsishvili said.

He also spoke about the role of the ADB in the private sector development process. Khutsishvili said that 'we need to strengthen the role of the private sector', because it is the driving force of the economy. He also said that the development of human capital is also important.