ADB launches new country strategy to “help develop Georgia into regional gateway”
ADB has supported Georgia since 2007 and is one of the country’s largest multilateral development partners, the Bank said, noting the sovereign and private sector loans to Georgia totalled $3.9 billion. The Bank also affirmed its continuous support to help the country expand its multi-modal transport network, strengthen climate and disaster resilience, and scale up clean energy generation and trade. Photo: Nino Alavidze/Agenda.ge
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The Asian Development Bank on Tuesday launched a new five-year country partnership strategy for Georgia to “help the country develop into a green and inclusive regional gateway”, the ADB said.
The strategy, which includes “a particular focus” on regional cooperation and integration, human capital development, and climate action, aims to support Georgia’s sustainable development by strengthening sovereign and private sector investments, policy reforms, capacity and knowledge.
ADB and Georgia have been steadfast partners and we look forward to further helping the country transition to a green and integrated economy and foster a more resilient and inclusive society,” the ADB Director General for Central and West Asia Yevgeniy Zhukov said, pledging to continue “to help Georgia leverage its geographical advantage and extensive free trade agreements to become a regional gateway connecting the Caucasus and Central Asia to Europe and the rest of the world”.
ADB’s new strategy supports major priorities in Georgia’s National Development Strategy, including economic development, social policy and human capital development, and public administration, the Bank noted.
Lesley Bearman Lahm, the ADB Country Director for Georgia, said “we are proud to maintain our partnership” with the Georgian Government, as the country “continues to develop into a regional transport and trade hub with climate-resilient infrastructure and stronger social security”, highlighting Bank’s support for “complex infrastructure” alongside transformative policy reforms, and enabling private sector development.
ADB has supported Georgia since 2007 and is one of the country’s largest multilateral development partners, the Bank said, noting the sovereign and private sector loans to Georgia totalled $3.9 billion. The Bank also affirmed its continuous support to help the country expand its multi-modal transport network, strengthen climate and disaster resilience, and scale up clean energy generation and trade.
Assistance in reforms to strengthen social protection in Georgia and the country’s pension systems and capital markets development, as well as improving the financial viability of large state-owned enterprises and strengthening education systems in Georgia, were also stressed in the Bank’s statement.