World Bank Group Launches New Country Partnership Strategy for Georgia
Monday, May 12The four-year strategy will guide the World Bank Groupís support to the country in helping end extreme poverty and boost shared prosperity in a sustainable manner.
The strategy identifies two areas of focus that will support achievement of these objectives: (i) strengthening public service delivery to promote inclusive growth; and (ii) enabling private sector-led job creation through improved competitiveness. The CPS is aligned with the Socioeconomic Development Strategy-2020, recently elaborated by the Government of Georgia with an overarching objective to achieve faster, inclusive and sustainable growth, while seeking a greater focus on social outcomes and poverty reduction.
The new strategy foresees total financial support by the World Bank Group of around US$1.2 billion, comprising sovereign loans from the International Bank for Reconstruction and Development (IBRD), private sector investments from the International Finance Corporation (IFC), and investment insurance from the Multilateral Investment Guarantee Agency (MIGA).
(World Bank Group)