BAKU, Azerbaijan, April 13
By Tamilla Mammadova - Trend:
World Bank is planning a large-scale project to support Georgia, said Sebastian Molineus, World Bank Regional Director for the South Caucasus, Trend reports citing Georgian media.
As he noted, according to several forecast scenarios for the European and Central Asian region in 2020, including Georgia, there will be a reduction in gross domestic product (GDP).
According to the World Bank’s Regional Director for the South Caucasus, the World Bank, together with other partner organizations, is working on a wider project to support Georgia, which will help the country overcome the crisis caused by the pandemic.
“We are conducting an intensive dialogue with the government and are closely cooperating with the International Monetary Fund (IMF), as well as with other development partners, and expect to develop a powerful project of financial support for Georgia. We will be able to announce specific project details soon. We are planning a large-scale support project that will focus on emergency situations, we will also focus on supporting the process of economic recovery after the pandemic is suspended. The emphasis will be placed, on the one hand, on health care and social protection, on the other hand, on additional budget support operations, which will directly serve to overcome the crisis caused by coronavirus,” Molineus said.
According to him, one of the important directions of the World Bank’s activities in Georgia is a project to restore jobs and the economy, which will be focused on the private sector.
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