Georgian PM highlights Gov’t’s “unwavering” efforts to create “peaceful, safe and secure future” for next generations

Georgian Prime Minister Irakli Kobakhidze on Saturday said his Government’s vision and efforts were “unwavering” in creating a “peaceful, safe and secure future” for the next generations.

In his speech at the 57th annual meeting of the Asian Development Bank in Tbilisi, Kobakhidze pledged to continue implementing relevant reforms and projects to build a “better future” for the country and noted the Georgian authorities counted on the ADB’s continued support in this process.

Our goal is to continue to strengthen our country and region and fully utilise Georgia's potential so that it could become the main financial, economic and commercial centre, as well as a hub of logistics, technology, education and services in the Black Sea region”, he added.

The PM highlighted the strengthening of the infrastructure as the country’s important priority for increasing the competitiveness of Georgia, and thanked ADB for its “active support” to the country, stressing that “the economic reinforcement of the country is impossible without partners”.

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The fact that Georgia already has the status of a donor country in the Asian Development Fund, after joining it as a beneficiary in 2007, confirms the “irreversibility of Georgia's development”, Kobakhidze said in his speech, pointing out that in cooperation with ADB, the country had developed a diverse portfolio, with $4.5 billion investment allocated for financing important sectors and projects, including expressways, power lines, municipal infrastructure, education, health and agriculture.

The Head of the Government also highlighted important infrastructure projects to further enhance Georgia’s transit function, including renovation of the East-West and South-North highways, construction of the Anaklia deep sea port and a new international airport in the country’s capital Tbilisi, as well as the reform of the railway sector.

Our starting point is always the Georgian people and their well-being. In this context, our most important achievement is that, despite the current challenges, we were able to maintain fiscal and macroeconomic stability. In the post-pandemic period, Georgia recorded double-digit economic growth, and the three-year average rate was 9.7 percent”, the PM noted in his speech.

He also stressed the importance of maintaining “the momentum of economic growth this year as well”, which amounted to 7.8 percent in the first quarter of 2024, with inflation reduced to less than 3 percent.