Finance Minister, European Investment Bank rep discuss economic impact of Ukraine war
The Georgian Minister thanked the Bank for its support of the development and promotion of the country's strategic transport infrastructure, highlighting its role as one of the largest investors of Georgia for infrastructure. Photo: Georgian Finance Ministry
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The impact of the ongoing hostilities in Ukraine on the economic development across the world, on the South Caucasus region and Georgia was discussed during a meeting between Maciej Czura, the Head of the European Investment Bank (EIB) Regional Representation for the South Caucasus, and Lasha Khutsishvili, the Georgian Finance Minister, on Thursday.
In the meeting, Khutsishvili pointed out the country would continue to pursue economic and structural reforms despite the challenges, aiming at boosting the economy and enhancing its resilience to shocks. The EIB official expressed “full readiness” to continue “active partnership” with Georgia, the Finance Ministry announced.
The sides also emphasised the importance of assistance provided by the Bank to Georgia in modernising and improving the medical infrastructure and financing the purchase of medical equipment during the Covid-19 pandemic.
They also praised the EIB’s involvement in the private sector, calling it a “major driving force” for growth, employment and innovation.
The Georgian Minister thanked the Bank for its support of the development and promotion of the country's strategic transport infrastructure, highlighting its role as one of the largest investors of Georgia for infrastructure.
The EIB began its operation in Georgia in 2007, investing about €2.04 billion in 23 infrastructure projects in both public and private sectors.
Reforms planned in state-owned enterprises, energy market development, energy security and development of human capital were in the focus of a meeting between Lasha Khutsishvili, the Georgian Finance Minister, Yevgeniy Zhukov, the Director General for Central and West Asia of the Asian Development Bank (ADB) and Shane Rosenthal, the ADB Country Director for Georgia, on Friday.
The current foreign exchange rates show concerns about the Georgian lari depreciation are “groundless,” Georgian Finance Minister Lasha Khutsishvili said on Thursday.
Khutsishvili asserted all sources of currency inflow in the country, including export and tourism, were “functional” and “growing.”
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An agreement on the construction of a 17-km, four-lane, access-controlled highway in eastern Georgia’s winemaking region of Kakheti was signed between the Georgian Finance Minister Lasha Khutsishvili and the World Bank Regional Director for the South Caucasus, Sebastian Molineus, earlier today.