Georgia and ADB
In the Spotlight
ADB has approved a $100 million loan to help the government better mobilize domestic resources to address limited availability of finance for small businesses--a critical obstacle to inclusive economic development--and increase access to long term finance on 31 August.
Supporting financial institutions is important as countries in Central Asia and the Caucasus work to reform and modernize their economies, says ADB's Nana Khurodze.
ADB has raised GEL64 million (approximately $30 million) from a Georgian lari denominated bond sale to support development of the local capital market and microenterprises in Georgia.
Get the latest statistical data on poverty and socioeconomic development in Georgia and compare poverty indicators among countries in Central and West Asia.
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
- Improving Domestic Resource Mobilization for Inclusive Growth Program (Subprogram 3)
- GEO: Financial Inclusion for Micro and Small Enterprise Growth
- Development of Public–Private Partnerships
- Urban Services Improvement Investment Program - Tranche 5
- Sustainable Urban Transport Investment Program - Tranche 4