ADB approves $15 million loan to improve urban environment of Georgia
As of today, sovereign and non-sovereign loans from ADB stand at $2.8 billion. Photo: Nino Alavidze/Agenda.ge.
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The Asian Development Bank (ADB) has approved a $15 million loan to improve infrastructure and services in Georgian cities and help the government of Georgia begin feasibility studies, design and civil work, announced the ADB earlier today.
The ADB notes that Georgia is experiencing unbalanced economic growth and many citizens are moving from regions to the capital city for jobs; Tbilisi is responsible for 70 per cent of Georgian gross domestic product (GDP), the bank notes.
Moreover, more than half of the urban population lives in Tbilisi.
Improving the livability of cities and infrastructure in Georgia is important for inclusive economic growth and will also help the country realize its unique potential as a destination for tourism in the region,” said ADB Senior Urban Development Specialist for Central and West Asia Ramola Naik Singru.
The loan will also help Georgia to do preparatory work before the implementation of ADB’s Georgia Livable Cities Investment Programme, which is planned to start at the end of 2020.
This loan will help the government undertake vital preparations as it works towards improving the accessibility and conservation of Georgia’s rich cultural and historical heritage, developing the country’s small and medium-sized enterprises, and improving the quality of life for its citizens,” said Ramola Naik Singru.
The goal of the ADB’s Georgia Livable Cities Investment Programme is to improve infrastructure, mobility, and livability in Georgia’s urban environments, in particular for the elderly, people with disabilities, women, and children.
Programme also aims to popularise Georgia as a destination for tourism and is going to invest in regional tourism destinations including Telavi, Gurjaani and Akhmeta, eastern Georgia. Also, it plans investing in eco-tourism by investing in Zugdidi, western Georgia and in adventure tourism by investing in Mestia–Ushguli, northwest Georgia.
The programme will also take care of the urban redevelopment of the capital city.
The ADB has been supporting Georgia since 2007.
As of today, sovereign and non-sovereign loans from ADB stand at $2.8 billion.
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