BAKU, Azerbaijan, April 7
By Tamilla Mammadova - Trend:
The Asian Development Bank (ADB) will support Georgia byexpanding existing projects, said Country Director for Georgia of the Asian Development Bank (ADB) Shane Rosenthal, Trend reports citing Georgian media.
Rosenthal added that Georgia is still coping with the coronavirus pandemic quite well, and now it’s important to ensure that the country's economy is inflicted as little damage as possible.
He went to say that economic assistance to Georgia will be provided by increasing the number of the ADB programs in the country, and new ones are already being developed.
"This may be an additional component of already planned projects in the fields of energy, road construction, water management, urban development and education. We have many active packages,” said Rosenthal.
According to him, ADB wants to help the private sector of Georgia in restoring economic stability.
“We have a financing program that will help banks finance small and medium-sized businesses,” said Rosenthal.
He added that the slowdown in economic activity and reduced consumer demand caused by the pandemic have inflicted the most damage to the poor groups of the population.
The Asian Development Bank has developed three possible scenarios for the impact of coronavirus on the global economy - the lightest, medium and most severe.
According to these scenarios, the damage to the global economy varies from to $347 billion. This means that at the global level, GDP growth will decline from 0.1 percent to 0.4 percent.
---
Follow the author on Twitter: @Mila61979356