Georgian PM, Asian Development Bank President discuss economic parameters in Tbilisi meeting
Georgian Prime Minister Irakli Garibashvili on Wednesday met Masatsugu Asakawa, the President of the Asian Development Bank. Photo: PM's press office
Tweet 
Share
Georgian Prime Minister Irakli Garibashvili on Wednesday discussed the current economic situation in the country and its fiscal and budgetary parameters with Masatsugu Asakawa, the President of the Asian Development Bank, during their meeting held in Tbilisi.
The Government Administration said the meeting was held as part of Asakawa’s visit to Tbilisi to attend the Central Asian Regional Economic Cooperation Forum this week.
The officials highlighted the importance of maintaining the “positive” dynamics of the economic growth of the country. The Administration cited Garibashvili as saying the strengthening of the private sector was “essential” for economic progress, and the role of the ADB was “crucial” in this process.
The meeting also noted the Georgian Government’s investment in reforms contributing to simplification of doing business in the country, as well as infrastructural projects, which in turn supported the development of Georgia as a transit, logistics, tourism and business hub.
Garibashvili said Georgia appreciated the ADB’s current portfolio in the country that included 18 investment projects worth $1.9 billion, with the total investments of the Bank implemented in the country reaching $4.5 billion.
The Georgian PM also emphasised the importance of hosting the upcoming annual meeting of the ADB in Georgia in 2024.
Officials from the ADB and Revaz Javelidze, the Head of the Government Administration, were also involved in the meeting.
Masatsugu Asakawa, the President of the Asian Development Bank, on Tuesday arrived in Georgia, on his first official visit to the country, to participate in the Central Asian Regional Economic Cooperation Forum.
Georgian Finance Minister Lasha Khutsishvili and Lesley Bearman Lahm, the Asian Development Bank Country Director for Georgia on Friday signed a $48 million loan agreement for modernising the irrigation systems for agriculture in the country and supporting institutional reforms.
Lesley Bearman Lahm, the Country Director for Georgia at the Asian Development Bank, on Saturday said she was “proud” of the ADB’s cooperation with the Government of Georgia for the last 15 years, stressing the East-West highway project would strengthen the position of the country as a transit hub.
The Asian Development Bank on Wednesday said high foreign direct investment and lower unemployment had supported “strong growth” for the Georgian economy, and raised its growth forecast for 2023 from the earlier 4.5 to six percent. “The growth will moderate slightly to five percent in 2024, in light of an expected return to growth potential and possible fallout from slowing global expansion”, the ADB said.
Masatsugu Asakawa, the President of the Asian Development Bank, on Wednesday said the Bank was “proud to support major projects and policy reforms” in Georgia during a meeting with Georgian Prime Minister Irakli Garibashvili.
Georgian Prime Minister Irakli Garibashvili on Thursday addressed the 22nd Annual Central Asia Regional Economic Cooperation Ministerial Conference in the capital city of Tbilisi to highlight Georgia’s “unique” role in contributing to “shared regional prosperity” with its economic development.
Georgian Prime Minister Irakli Garibashvili on Thursday highlighted the “immense contribution” of the Asian Development Bank and the Central Asia Regional Economic Cooperation Programme to “numerous” projects and events implemented in the country.
Georgian Prime Minister Irakli Garibashvili on Thursday highlighted the country’s economic progress since the Covid pandemic at the Annual Central Asia Regional Economic Cooperation Ministerial Conference, telling the event the national economy had rebounded with a “double-digit” growth of over 10 percent over the past two years.