Georgian Prime Minister, World Bank Executive Director discuss “fruitful cooperation”

Irakli Kobakhidze, the Prime Minister of Georgia, on Thursday discussed “fruitful cooperation” with the World Bank over the past three decades with Eugene Rhuggenaath, the Executive Director of the global body.

The sides highlighted the “important role” played by the Bank's support in the process of economic growth and development of the country, the Government press office said.

The discussion noted a “number of important projects” were being implemented with the financing of the World Bank in Georgia’s road infrastructure, energy, education and agriculture, as well as for regional, municipal and technological development, with the total cost exceeding $4 billion.

In their meeting, the parties emphasised the Bank's current portfolio in Georgia included 15 projects with the total investment value of $1.5 billion.

The PM expressed gratitude to Rhuggenaath for the Bank's support of initiatives for “reforming structural and human capital” in the country, and noting “maintaining macroeconomic stability” was a “priority” for his Government.