Georgian Finance Minister, World Bank Vice President review cooperation, implemented projects
The meeting also covered the Black Sea submarine electricity cable project, an international deal to deliver green energy from the South Caucasus to Europe, the Ministry of Finance said. Photo: Finance Ministry
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The cooperation between Georgia and the World Bank, as well as projects implemented both in public and private sectors of the country with the latter’s support were discussed on Wednesday between the Georgian Finance Minister Lasha Khutsishvili and Antonella Bassani, the Vice President of the World Bank for the Europe and Central Asia.
The meeting also covered the Black Sea submarine electricity cable project, an international deal to deliver green energy from the South Caucasus to Europe, the Ministry of Finance said.
Happy to meet WB VP @anbassani to review key projects in public & private sectors w/ valued support of @WorldBank for greater #energy #security & #independence, Black Sea #Submarine Power Cable, upgraded #infrastructure, #human #capital dev, #innovations and #digital #advancement pic.twitter.com/nj63raijtV
— Lasha Khutsishvili ???????? (@Lasha_Khutsish) April 11, 2023
Khutsishvili and Bassani also discussed topics of energy security and independence, along with upgraded infrastructure, human capital development, innovations and digital advancement in Georgia.
The Georgian official also expressed gratitude for the Bank’s contribution to Georgia's “economic stability and sustainability”.
Economic questions and cooperation between the World Bank and Georgia were discussed on Wednesday between the Georgian Finance Minister Lasha Khutsishvili and Koen Davidse, the Executive Director of the World Bank.
Dynamics of trade between Georgia and the United States and economic ties between the two countries were discussed on Tuesday between the Georgian Finance Minister Lasha Khutsishvili and Matthew S. Axelrod, the Assistant Secretary for Export Enforcement of the US Department of Commerce.
Sebastian Molineus, the World Bank Regional Director for the South Caucasus, on Thursday said the Black Sea submarine cable project would contribute to a “very strong” economic and political connection between Georgia, the South Caucasus and European countries.
The European Union “strongly supports” the Black Sea submarine cable project, a new transmission route to deliver green energy from Azerbaijan to Europe, and hopes the South Caucasus will become a “very important” source of energy for Europe, Paweł Herczyński, the Ambassador of the European Union to Georgia, said on Thursday.
Georgian Economy Minister Levan Davitashvili and Thea Roseman Candler, the United States Assistant Secretary of Commerce for export control on Wednesday discussed trade and economic relations between the two countries.
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The progress of the reforms implemented in Georgia with the International Monetary Fund’s support, as well as the current economic situation in the country, was reviewed on Thursday by the Georgian Finance Minister Lasha Khutsishvili and James John, the Deputy Chief of the IMF.
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Georgian Finance Minister Lasha Khutsishvili on Friday met Bo Li, the Deputy Managing Director of the International Monetary Fund, and Teresa Czerwińska, the Vice President of the European Investment Bank, in the United States to review cooperation with the institutions.
The dynamics of cooperation between the Government of Georgia and the World Bank were reviewed on Wednesday by the country’s Prime Minister Irakli Garibashvili and the Bank’s newly appointed South Caucasus Regional Director Rolande Pryce, who will officially take office on September 1.
The World Bank on Wednesday said the Georgian economy had demonstrated “resilience” amid a rapidly changing external environment due to sound macroeconomic management, while the country faced challenges in creating high-quality jobs.