ADB approves $200 million policy loan to support Georgia’s economic recovery
ADB programme aims to benefit senior citizens in particular who are disproportionately exposed to the impacts of Covid-19. Photo: Nino Alavidze/Agenda.ge.
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The Asian Development Bank (ADB) approved a $200 million policy-based loan today to support Georgia’s recovery from the coronavirus disease pandemic by launching a fiscal resilience and social protection support programme aiming to ensure macroeconomic stability in the medium to long term while continuing to protect the livelihoods of those most affected by the crisis.
The ADB programme also aims to strengthen the management of public exposure to fiscal risks and deepen domestic markets for government securities.
These measures seek to reduce the share of general government debt denominated in foreign currency and minimise public exposure to refinancing and currency risks that threaten macroeconomic stability.
The programme will also help ensure the fiscal sustainability of social protection programmes that were expanded during the crisis.
It will support government reforms to the national pension plan, benefitting senior citizens and other social protection systems to promote an inclusive return to economic growth.
In May this year the ADB approved a $100 million loan to support the government’s anti-crisis measures, including tax deferments for small and medium-sized businesses, temporary payments for pandemic-affected workers, and free access to COVID-19 diagnostic and treatment services.
Asian Development Bank (ADB) has approved a €400,000 (about $451,996) loan for Georgia to purchase polymerase chain reaction (PCR) equipment and tests, which is the ‘gold standard’ in testing for the coronavirus.
The Asian Development Bank (ADB) has approved a $100 million loan to help Georgia contain the spread of the coronavirus pandemic, mitigate the impact on businesses, and protect the livelihoods of the most vulnerable, including women and children.
The French Development Agency will allocate €190 million to Georgia to contain the spread of the coronavirus and support energy reforms in the country, announces the Finance Ministry of Georgia. Georgian Ministry of Finance and French Development Agency signed the agreement today.
The Asian Infrastructure Investment Bank (AIIB) is offering €91,340,000 to help Georgia prevent and respond to threats caused by the coronavirus pandemic, announces the Finance Ministry of Georgia. The loan agreement was signed today under the 'Emergency COVID-19 Response Project' for Georgia.
The Asian Development Bank (ADB) has approved a $2.5 million grant to support Georgia’s ongoing response to the coronavirus pandemic.