WB increases financing for Georgia

Business Materials 5 May 2011 16:23 (UTC +04:00)

Georgia, Tbilisi, May 5 / Trend N. Kirtskhalia /

The World Bank will increase financial support for Georgia by $235 million over 2 years. It will focus on preserving the economic growth and meeting the needs of vulnerable population, WB Regional Director for South Caucasus Assad Allami said in Tbilisi.

He said a large part of the sum will be spent on road improvements and regional development of the country.

The WB will finance new programs at the expense of $160 million through the International Development Association (IDA) and $75 million through the International Bank for Reconstruction and Development (IBRD).

The sum allocated to Georgia by the WB in 2010-2013 will hit $630 million, of which $385 million have already been spent.

The success achieved with the support of the WB in 2009 includes the rehabilitation of 600 km of roads, the construction of seven new schools, special training of about 1,800 medical employees, the construction of the hospital for 25 beds in the city of Ambrolauri and the opening of the centre of first aid in the city of Gori.