Georgia and ADB
In the Spotlight
Roads were re-tarmacked, sidewalks fixed, and a storm water drainage system built in Mtskheta, Georgia. This was part of an effort to improve municipal services in Georgian towns, which ADB supported with loans totaling $70 million.
ADB is helping finance the construction of a bypass road to divert heavy traffic from the seaside resort town of Kobuleti, and provide an additional boost to the tourism boom along the country's Black Sea coast.
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