Georgia to receive €44.6m loan from World Bank
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Georgia will receive a credit line to the amount of €44.6 million from the International Bank for Reconstruction and Development (IBRD).
The Government of Georgia and the World Bank have just signed a new agreement that supports the Government reforms in Georgia and helps the private sector increase the competitiveness.
I am glad that the World Bank actively continues its support for our country’s business environment that also contributes to economic growth and stable development,” said Georgia’s Finance Minister Dimitry Kumsishvili.
As Georgia’s Finance Ministry reported, the Government is focused on strengthening the competitiveness of the private sector, which will reduce the economy's dependence on state investments.
The World Bank continues supporting Georgia’s economic reform program in key areas by providing a loan of €47.2 million.
The World Bank is praising Georgia for its major reform plan that aims to improve the country’s investment environment, boost economic growth and ensure macroeconomic stability.
The World Bank (WB) says it’s eager to support Georgia implement its four-point reform agenda, which includes new tax benefits, infrastructure plans, governance reforms and an overhaul of the education system.
The World Bank Group is praising the four-point Governmental reform plan that aims to improve Georgia’s investment environment.
Georgia and the World Bank are celebrating 25 years of partnership today.
The World Bank is continuing to help Georgia improve its main transport artery, the East-West Highway, by offering €16.9 million.
Two new logistic centres will be built in Georgia’s third largest city Kutaisi and in the village Kumisi, near capital of Tbilisi to cement Georgia’s reputation as a logistics hub country.
The production of bitcoins and blockchain technologies are very well developed in Georgia and furthermore, the country is among the leaders in this field, believes a World Bank delegation to Georgia.