PM Garibashvili Meets With WB Regional Director

By Khatia Bzhalava

Wednesday, November 24

Regional Director of the World Bank for the South Caucasus Sebastian Molineus and Prime Minister of Georgia Irakli Garibashvili.

“I am pleased to see many very important reforms in Georgia,” said WB Regional Director Sebastian Molineus

Prime Minister of Georgia Irakli Garibashvili met with Sebastian Molineus on Monday to discuss current and upcoming economic projects in Georgia. According to Molineus, he is pleased to see important reforms being implemented in the country.

Molineus stressed that the discussion mainly focused on the economic reform program. A major transformational reform program which is prepared by the World Bank cooperatively with the Georgian government aims at improving health, educational and social outcomes in the country.

The World Bank’s assistance to Georgia during the pandemic was particularly highlighted at the meeting. WB Regional Director praised the steps taken by the Georgian government to boost engagement in the vaccination process, such as the introduction of COVID passes and financial incentives for the elderly.

According to Molineus, the sides also focused on the reforms that could increase the productivity of the Georgian economy and ensure a strong, competitive, and digital economy.

Garibashvili pointed out that the World Bank has financed several significant projects over the decades, allocating a total of $2.7 billion. The current portfolio of the World Bank consists of 12 active investment projects and Development Policy Operations (DPOs) amounting to $928 million. According to the official statement, the PM thanked Molineus for the effective and productive cooperation with the Government of Georgia, noting that engagement of the World Bank in various sectors of the economy is greatly appreciated.

It was stressed at the meeting that projects oriented towards boosting the micro, small and medium enterprises (MSME) have stimulated the economic recovery and gradual resumption of business in Georgia. The Prime Minister emphasized that the country aims to transform into a transport and logistics hub between Europe and Asia.

“We discussed the logistics agenda, making sure that when it comes to regional connectivity and integration, Georgia can be a strong leader not only in the region but globally as well, given its geopolitical placement in the region" noted Sebastian Molineus.

The PM stressed that implementing regional development projects is a key priority in the agenda of the government and highlighted the significant role of financial support of the World Bank.