Georgian Finance Minister talks human capital importance at World Bank forum
Khutsishvili thanked the institution for its support of Georgia and called the development of human capital in the country “one of the main key preconditions” for sustainable and inclusive economic growth. Photo: Georgian Finance Ministry
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Significance of human capital development in Georgia was raised by the country’s Finance Minister Lasha Khutsishvili on Wednesday at an online forum organised by the World Bank.
In comments at the remote meeting Khutsishvili pointed out the role of the field in the long-term development of the country, and highlighted the need for new and innovative approaches in the area, the Ministry said.
Reforms implemented by the Government in primary, vocational and higher education systems were also discussed by the official, who noted “significant funds” had been spent on upgrading school infrastructure and modernising universities.
With the focus on attracting additional investment in the healthcare and social care sectors, the Minister discussed the World Bank’s $400 million Human Capital Programme for Georgia, which seeks to increase the efficiency of service delivery in the fields.
Khutsishvili thanked the institution for its support of Georgia and called the development of human capital in the country “one of the main key preconditions” for sustainable and inclusive economic growth.
Lasha Khutsishvili, the Georgian Finance Minister, and Sebastian Molineus, the World Bank Regional Director for the South Caucasus, signed a €358,500 million agreement for the Human Capital Programme for Georgia on Wednesday.
Georgian Finance Minister Lasha Khutsishvili reaffirmed Georgia’s “full support” for Ukraine amid the ongoing Russian invasion in a discussion organised by the International Monetary Fund on Tuesday.
Held in a digital format, the discussion took place between finance ministers and central bank chiefs of the Caucasus and Central Asia.
Georgian Finance Minister Lasha Khutsishvili said on Wednesday Georgia had “strong support” from the international financial organisations, which was reaffirmed during his visit to Washington.
Current macroeconomic parameters of Georgia, the impact of the global pandemic on the country, and trends of economic recovery were discussed by Lasha Khutsishvili, the Georgian Finance Minister, and World Bank officials on Wednesday.
The current and future cooperation were discussed between the Georgian Finance Minister Lasha Khutsishvili and Ben Dickinson, the Head of the Global Relations and Development Division of the Organisation for Economic Co-operation and Development’s Centre for Tax Policy and Administration, on Thursday.
A human capital programme designed to unlock Georgia’s growth potential through investments in health, education and social protection has been launched in the country, the World Bank announced on Tuesday.
Georgia will receive €100 million from the French Development Agency to co-finance its human capital development programme as part of the agreement signed on Tuesday between the AFD, the ministry of finance of Georgia and the French embassy.
Georgian Finance Minister Lasha Khutsishvili on Tuesday discussed cooperation with Cécile Couprie, the Regional Director for Eurasia for the French Development Agency, and outlined plans for the third annual bilateral consultation meeting between the Georgian Government and the institution.