News

ADB appoints new country director for Georgia

The Asian Development Bank (ADB) has appointed Shane Rosenthal as its new Country Director for Georgia. ADB has supported Georgia since 2007 and is one of the country’s largest multilateral development partners. Sovereign and nonsovereign loans to Georgia to date total about $2.8 billion.

EBRD and EU help Georgian hydroponic farm expand

Georgia signed an association agreement with the European Union (EU) and established a free trade area with the EU market. This opened up the world’s largest trading block, with its hundreds of millions of consumers, to Georgia’s goods – agricultural produce included.

New ADB country strategy to expand trade, drive economic growth in Georgia

The 5-year partnership strategy, from 2019–2023, supports the Government of Georgia’s overall development strategy to increase productivity and reduce poverty through closer economic integration with its neighbors and the rest of the world.

ADB approves $415 million loan to improve Georgia’s North–South road corridor

The Asian Development Bank (ADB) has approved a $415 million loan to Georgia to build a new highway as part of a wider government program to improve the country’s transport network and enhance Georgia as a regional trade and tourism hub.

ADB President reaffirms support to CAREC at 17th Ministerial Conference

Asian Development Bank President Takehiko Nakao reaffirmed ADB’s support for CAREC and announced $2 billion in new assistance for regional projects in CAREC countries in 2018.

ADB President visits Georgia, reaffirms commitment to expand partnership

During his visit, Asian Development Bank (ADB) President Takehiko Nakao announced that ADB plans to mobilize over $1.2 billion in financing during 2019–2021, including support for two flagship projects of the government: the development of the East–West and the North–South transport and economic corridors. (Photo credit: ADB)

ADB, Georgia sign loan for Tbilisi metro improvement project

The project is the fifth and last installment of the $300 million financing facility for the Sustainable Urban Transport Investment Program, approved by the Government of Georgia and ADB in August 2010.

VP Zhang visits Georgia, reaffirms ADB’s development support

Asian Development Bank (ADB) Vice-President Wencai Zhang met with the Prime Minister of Georgia Giorgi Kvirikashvili, where he highlighted ADB’s robust and expanding partnership with Georgia and reaffirmed ADB’s commitment to support the country’s economic development.

World Bank continues to support upgrading Georgia’s major transport route

The World Bank Board of Executive Directors a 16.9 million euro equivalent Additional Financing for the East-West Highway Corridor Improvement Project for Georgia. The project’s goals are to reduce road user costs along the corridor section upgraded under the project, and strengthen the capacity of the Roads Department under the Ministry of Regional Development and Infrastructure.

The Caucasus and Central Asia: Time for Decisive Action

The economies in the Caucasus and Central Asia (CCA) are recovering supported by improving economic conditions in their main trading partners, higher commodity prices, and reforms taking hold, according to the International Monetary Fund's (IMF) 2017 CCA Regional Economic Outlook.