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Last updated: 10:55 - 1 May.'18
WB Adds USD 235m to Georgia Financing
Civil Georgia, Tbilisi / 4 May.'11 / 19:40

The World Bank is putting USD 235 million in new financing for the next two years to help “sustain economic growth and support the needs of the vulnerable” in Georgia, the bank said on May 4.

“Much of this will go towards local and secondary roads and regional development,” Asad Alam, World Bank Regional Director for the South Caucasus, said.

The World Bank will finance new lending program through its two institutions – USD 160 million from International Development Association (IDA) and USD 75 million from International Bank for Reconstruction and Development (IBRD).

Support to Georgia through both IDA and IBRD in frames of Country Partnership Strategy for Georgia in 2010-2013 will now total USD 630 million, of which USD 385 million have already been committed and disbursed, the World Bank said.

“We are very pleased with the strong results from the programs supported by the World Bank,” Asad Alam said.

Among key achievements of Bank-supported progress in Georgia from 2009, the World Bank listed rehabilitation of 600 km of roads; construction of seven new schools; training of over 1,800 health specialists; construction of 25-bed hospital in Ambrolauri in western Georgia; opening of primary health care center in town of Gori.

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