Georgia and ADB
In the Spotlight
ADB a $80 million loan to rehabilitate a secondary road in central Georgia. The Secondary Road Improvement Project will increase the mobility of and accessibility for local residents and tourists visiting the area, and increasing economic activity in the region.
ADB's Trade Finance Program (TFP) helps partner banks support their clients working in international trade. Georgia's BasisBank joined the TFP in September 2016. CEO David Tsaava discusses the benefits of teaming up with the TFP.
ADB and the Government of Georgia have signed a $99 million ADB loan to upgrade water supply, sewerage, and sanitation systems for nearly 62,000 people in the secondary towns of Marneuli, Bolnisi, and Chiatura.
The new country operations business plan will support the Government of Georgia to improve internal and regional market connectivity to enhance private sector competitiveness and broaden access to economic opportunities, among other things.
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. Priority sectors include transport, water supply and sanitation, energy, public sector management, and finance.
In October 2016, Georgia became the 11th member of the Central Asia Regional Economic Cooperation (CAREC).
Projects in Georgia