Asian Development Bank to increase investments by over $1 bln in Georgia
Georgian Economy Minister Giorgi Kobulia met today the ADB Country Director for Georgia Yesim Elhan-Kayalar. Photo: Ministry of Economy.
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The Asian Development Bank (ADB) plans to increase its investment portfolio by over $1 billion in Georgia.
As the ADB told Agenda.ge by the end of 2018 the investment portfolio will be increased by $300 million and in 2019-2021 by $1.080 billion.
Georgian Economy Minister Giorgi Kobulia announced today after a meeting with the ADB Country Director for Georgia Yesim Elhan-Kayalar that the bank had already invested in Georgia about $3 billion.
Kobulia said that the promising fields in which the ADB might increase investments are Georgia’s energy sector, pension reform and public-private partnership law implementation.
Kobulia also said that the ADB is also considering more active support to Georgia’s small and medium-sized businesses and that the bank had presented “a very important” programme in this regard.
“The bank will provide technical and financial support to the small and medium-sized businesses in the regions to connect them to each other - for example, hotels to products’ producers. The bank will also give them financing so that they can set up businesses like manufacturing units or hotels”, Kobulia said.
The President of Asia Development Bank (ADB) Takehiko Nakao is paying an official visit to Georgia on June 13-16. This is the first visit of the ADB President to Georgia after cooperation was launched between Georgia and the bank, and is a clear confirmation of ADB's support for Georgia, announced Georgia’s Ministry of Finance.
The growth of Georgia’s economy is projected to reach 4.7 percent in 2019, following a dip to 4.5 percent in 2018, on strong investment and exports, says the Asian Development Bank (ADB).
The Asian Development Bank will fund the second phase of work on water supply, sanitation and wastewater treatment systems at Georgia’s ski resort of Gudauri.
Georgia’s Prime Minister Giorgi Kvirikashvili has met with Werner Liepach, the new Director General of the Asian Development Bank’s Central and West Asia Department of the Asian Development today.
The Asian Development Bank (ADB) has raised Georgia’s 2018 growth forecast to 4.9 per cent from the April estimate of 4.5 per cent, reflecting strong growth in tourism and robust investment after an increase in business and investor confidence.