Georgian economy minister: today we join IDA of World Bank as donor country, to share our examples of success and experience with other countries

Levan Davitashvili, the Georgian economy minister and vice prime minister said on Tuesday, at the ceremony celebrating the 30th anniversary of the partnership between the World Bank and Georgia, he was “glad” that Georgia has officially joined the International Development Association of the World Bank as a donor country and would have an opportunity to share its success and experience with the countries being “unfortunately” on the verge of poverty and aiming to develop into higher income countries.

Photo: Economy Ministry.

Davitashvili said there had been “challenges” and “many setbacks” during the period of the partnership between the World Bank and Georgia, however, it had been “successful” in terms of economic progress, the economy ministry said.

The World Bank also [...] emphasised how the country [Georgia] was able to transform from the poorest one to a country with a higher than average income, with an ambition to become a high-income country”, Davitashvili noted.

The economy minister said double-digit economic growth and the sustainability of Georgia's economic policy, as well as future projects, both in the sectoral direction and in terms of structural reforms, had been also discussed.

Davitashvili highlighted that the cooperation with the World Bank over the past three decades has “significantly contributed” to the development agenda of Georgia, and noted with “such strong and sustained support”, the country’s government has been able to implement reforms in the “key areas”, such as private sector competitiveness and infrastructure development, as well as financing of small and medium enterprises and energy security.