World Bank: Georgia reaches its historic maximum for effectiveness of corruption control and governance
Georgia scored 77.40 per cent on Control of Corruption 100 per cent scale - this figure is a historic high. Photo: N. Alavidze/Agenda.ge.
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Georgia has reached a historic high in terms of effectiveness of corruption control and governance, reveals the World Bank report ‘Worldwide Governance Indicators’.
More specifically, Georgia scored 77.40 per cent on Control of Corruption 100 per cent scale - this figure is a historic high.
Georgia is among the leaders in the fight against corruption, and by this figure, it is ahead of 13 EU member states, such as Malta, Poland, Czech Republic, Latvia, Lithuania, Spain, Slovakia, Italy, Croatia, Hungary, Romania, Greece and Bulgaria.
Georgia improved its position with regard to regulatory quality. Georgia earned 81.73 per cent in the 100 per cent scoring and is ranked 38th in the world in 2017.
Georgia’s positions have improved in the Government Effectiveness and is ranked the 59th with 72.12 points. Georgia is ahead of the countries such as Hungary (63), Italy (64), Greece (71), Bulgaria (76), Serbia (83), Armenia (105), Azerbaijan (111), Romania (113) and others.
In 2017, Georgia’s position has worsened in terms of the following indicators – political stability (143), voice and accountability (93) and rule of law (78).
Georgia’s logistics performance has improved, jumping 11 places from 130th to occupy the 119th position on the World Bank’s recently released Logistics Performance Index (LPI) 2018 report. The 2018 Logistics Performance Index scores countries on how efficiently they move goods across and within borders.
The World Bank Group Board of Executive Directors has endorsed the 2019-2022 Country Partnership Framework (CPF) for Georgia, which aims to support sustainable and inclusive growth and improve living standards in the country.
The World Bank is ready to support the successful implementation of current and planned reforms by the Government of Georgia, says the Executive Director of the World Bank Group and the bank’s representative in Georgia Frank Heemskerk.
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.
Georgia is among 20 selected countries in which the World Bank will implement its new initiative ‘Human Capital Project’ – a global effort to accelerate more and better investments in people for greater equity and economic growth.
Georgia’s reputation as a business friendly country is growing after becoming the 6th best country in the world in terms of economic development and easy of doing business.
“Tbilisi, Batumi and Martvili meet all quality standards”
Georgia’s municipality of Martvili and the cities of Tbilisi and Batumi have all successfully passed the so called “PEFA CHECK” launched by the World Bank and the European Union, which confirms that “all quality standards had been met” in these areas.
Georgian authorities have improved the country’s public financial management systems, the World Bank said on Thursday in its 2022 Public Expenditure and Financial Accountability assessment, which compared improvements to the institution’s 2018 report.