How ADB is Helping Georgia Recover from COVID-19

Video | 11 June 2020

ADB has approved a $100 million loan to help the Government of Georgia contain the spread of the novel coronavirus disease (COVID-19) pandemic, mitigate the impact on businesses, and protect the livelihoods of the most vulnerable, including women and children.

The COVID-19 Active Response and Expenditure Support (CARES) Program will provide budget support to the government and help fund its comprehensive anti-crisis plan.

Transcript

ADB Country Director for Georgia, Shane Rosenthal:

“As an international trade hub and tourism destination, Georgia been inherently vulnerable to the impact of the COVID-19 pandemic.

Thanks to timely and effective actions, the government has been largely successful in slowing the pace of infection.

Even so, the country’s healthcare system remains vulnerable.

The Georgian economy has been hard-hit by the crisis, and up to 400,000 people or a quarter of the workforce are at risk of losing their jobs.

Rogerio de Almeida Vieira de Sa, team leader for the $100 million loan program for Georgia:

ADB has approved a $100 million loan to support Georgia’s funding needs as it responds to the COVID-19 crisis.

It does so by supporting the government’s own comprehensive anti-crisis plan.

First, the loan will help the government ensure free access to treatment and diagnostic services.

It will help the government provide protective personal equipment to all frontline health workers including in appropriate sizes for women.

The loan will indirectly benefit thousands of small tourism-related businesses by helping to fund the government’s tax deferment scheme

The loan will also help protect the livelihoods of the most vulnerable through helping to fund a range of government social support and anti-poverty measures that are already underway.

ADB Country Director for Georgia, Shane Rosenthal:

ADB has been a trusted partner of Georgia for more than a decade now.

And as the economy gradually restarts, we will be there to help the country realize a new era of diversified and inclusive growth.