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., 26 Sep 2018 - 18:44, Tbilisi,Georgia

The Asian Development Bank (ADB) plans to increase its investment portfolio by over $1 billion in Georgia.

As the ADB told 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.