Asian Development Bank offers more money to Georgia
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Asian Development Bank (ADB) is stepping up its financial commitments and providing more money to finance vital infrastructural projects in Georgia to further develop the country and its economy.
Today at a meeting with Georgia’s Finance Minister Nodar Khaduri the Bank’s Director General Sean O'Sullivan confirmed ADB would increase its funding to Georgia.
O'Sullivan visited Georgia’s capital Tbilisi for the first time to see how ADB financed infrastructural projects were being implemented.
The Bank will continue financing projects in Georgia in the fields of energy, water supply and road infrastructure.
Khaduri thanked O'Sullivan for ADB’s financial contribution to infrastructural projects in Georgia and especially for its involvement in the East-West Highway project. Khaduri also highlighted ADB’s support as Georgia carried out sectoral reforms, which aimed to increase the state and private investments and mobilise the country’s internal resources.
At the meeting Georgia’s Finance Minister and ADB’s Director General discussed ways how Georgia can join the Central Asia Regional Economic Cooperation (CAREC).
The CAREC is a partnership of 10 countries and six multilateral development partners working to promote regional cooperation in transport, trade facilitation, trade policy and energy areas. Georgia always worked with different donor organisations to attract additional financial resources and CAREC is no exception,” a spokesperson from Georgia’s Finance Ministry told Agenda.ge.
Georgia is interested in expanding its transit function between East and West thanks to its geographical location. By joining CAREC Georgia would increase this prospective,” the spokesperson added.
At the end of the meeting Khaduri and O'Sullivan planned the arrival of ADB’s mission to Georgia in March 2016. The mission would discuss issues related to the expansion of Georgia’s economic reforms.
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