Georgia to receive €44.6m loan from World Bank

Georgia's Finance Minister Dimitry Kumsishvili and Mercy Tembon of the World Bank signed agreement today. Photo by Georgia's Finance Ministry., 16 Aug 2017 - 15:29, Tbilisi,Georgia

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.