BAKU, Azerbaijan, April 13
Tamilla Mammadova – Trend:
The Asian Development Bank (ADB) will provide loans to Georgia in the amount of $1.05 billion in 2021-2023, said ADB Country Director for Georgia Shane Rosenthal, Trend reports via Georgian media.
"According to the agreement with the government, these credit resources will be used to finance both current infrastructure projects and to support various reforms and investment needs in the country," Rosenthal noted.
According to him, the main focus is on projects on renewable energy sources and modernization of existing energy facilities, on transport and logistics, water supply and sewerage infrastructure, tourism, information and communication technologies in hard-to-reach regions of Georgia.
Rosenthal noted that in 2020 the bank provided Georgia with financial assistance in the amount of about $520 million, of which up to $300 million is planned to be used to overcome the economic crisis associated with COVID-19. Last year, a program for the development of human capital and professional skills for $70 million and a program for financing projects to modernize water supply and sewerage systems in the regions of the country - for $150 million were also approved.
ADB is currently funding several major projects in Georgia, including the expansion and modernization of sections of the East-West expressway across the country. As reported, the strategy of cooperation between ADB and Georgia for 2019-2023 provides for the allocation of credit resources to the republic for the implementation of various projects in the amount of $2 billion.
Georgia has been a member of ADB since February 2007. Since then, the country has received about $3.5 billion from ADB to support the budget and finance infrastructure projects in the construction and modernization of roads, rehabilitation of water supply systems, development of urban transport infrastructure, as well as in the energy sector.
---
Follow the author on Twitter: @Mila61979356