Georgian PM, Asian Development Bank President discuss economic parameters in Tbilisi meeting

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.