The Asian Development Bank approved a $100 million loan for the capital markets and pension system of Georgia

2022/11/97897-1668149358.jpg
Read: 471     11:00     11 Ноябрь 2022    

According to the Asian Development Bank, the second subprogram of the fiscal sustainability and social protection program will be implemented in 2020 based on the results of the approved first subprogram. The first subprogram was aimed at promoting Georgia's macroeconomic stability during the COVID-19 pandemic.

"Georgia has successfully coped with the challenges of COVID-19, which allowed the country to achieve an immediate economic recovery, but geopolitical events can complicate economic forecasts. With this subprogram, the Asian Development Bank supports Georgia in completing the reform process, which will allow the government to manage financial risks, develop capital markets and social protection programs", said Evgeny Zhukov, Director General of the Central and West Asia Department of the Asian Development Bank.

The Asian Development Bank states that the second subprogram will contribute to the development of the country's institutional capacity in order to increase resilience to fiscal risks caused by natural disasters and climate change.

Georgia has been a member of the Asian Development Bank since 2007, and the bank is one of the largest multilateral partners in promoting the country's development. The total amount of loans approved for Georgia is US$ 3.92 billion, and the amount of technical assistance is US$ 28.9 million. ADB's development priorities in Georgia are trade facilitation, job creation and poverty reduction through regional economic corridors.

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The Asian Development Bank approved a $100 million loan for the capital markets and pension system of Georgia

2022/11/97897-1668149358.jpg
Read: 472     11:00     11 Ноябрь 2022    

According to the Asian Development Bank, the second subprogram of the fiscal sustainability and social protection program will be implemented in 2020 based on the results of the approved first subprogram. The first subprogram was aimed at promoting Georgia's macroeconomic stability during the COVID-19 pandemic.

"Georgia has successfully coped with the challenges of COVID-19, which allowed the country to achieve an immediate economic recovery, but geopolitical events can complicate economic forecasts. With this subprogram, the Asian Development Bank supports Georgia in completing the reform process, which will allow the government to manage financial risks, develop capital markets and social protection programs", said Evgeny Zhukov, Director General of the Central and West Asia Department of the Asian Development Bank.

The Asian Development Bank states that the second subprogram will contribute to the development of the country's institutional capacity in order to increase resilience to fiscal risks caused by natural disasters and climate change.

Georgia has been a member of the Asian Development Bank since 2007, and the bank is one of the largest multilateral partners in promoting the country's development. The total amount of loans approved for Georgia is US$ 3.92 billion, and the amount of technical assistance is US$ 28.9 million. ADB's development priorities in Georgia are trade facilitation, job creation and poverty reduction through regional economic corridors.

1tv.ge





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