Georgia and ADB
In the Spotlight
Growth slowed to 2.8% as a weak external environment curbed investment, exports, and remittances in Georgia. Currency depreciation fueled inflation. With continued external weakness, growth is expected to remain low in 2016 before recovering in 2017 on stronger global expansion.
ADB will continue to support Georgia's efforts to utilize its borrowing capacity in the most strategic and impact-oriented manner through its country program, which focuses on water supply and sanitation, roads, urban transport and energy.
ADB is providing an aggregate of $130 million in loans and $1.05 million in technical assistance grants to three financial institutions to support micro, small and medium-sized enterprises (MSME) and farmers, helping them to raise income levels and employment in Georgia.
ADB plans to support Georgia’s government to enhance private sector competitiveness, increase access to finance, improve water and sanitation as well as power systems, and strengthen public sector management.
Located at the crossroads of Europe and Asia, Georgia has become an important node for regional trade flows. The Government of Georgia has taken steps to deregulate the economy, streamline bureaucracy, and combat corruption. Committed to a more inclusive growth process, the government has considerably increased social sector funding and made public expenditure transparent. Yet, despite solid economic growth, poverty and unemployment continue to impede Georgia’s development.
The key development priorities of ADB in Georgia are to foster inclusive and sustainable economic growth, accelerate poverty reduction, and enhance regional connectivity. Guided by the country partnership strategy, priority sectors include transport, water supply and sanitation, energy, public sector management, and finance.
Projects in Georgia
No projects in this category were found.