Donor organizations will continue to support projects in Georgia - Head of the Ministry of Finance

Georgia has received support from donor organizations to finance important international projects, Finance Minister Lasha Khutsishvili said.

First Deputy Prime Minister of Georgia, Minister of Economy Levan Davitashvili is on a visit to Washington. The Georgian delegation includes Deputy Minister of Economy Vakhtang Tsintsadze, Minister of Finance Lasha Khutsishvili and President of the National Bank Natia Turnava. The Georgian side is holding meetings with the leadership of the International Monetary Fund, the World Bank.

“The achievements Georgia has made are significant - within the framework of reforms, which have already proved their success by numbers. In this regard, it is important that all donor organizations have expressed readiness and support for the projects that are already being implemented, as well as projects that we have already agreed that they will be implemented in the future,” Khutsishvili said on air of Imedi TV channel from Washington.

According to him, it is important for the World Bank to continue cooperation on such important projects as the submarine electric cable in the Black Sea, as well as the human resources development program.

Georgia, Azerbaijan, Romania and Hungary signed an agreement in 2022 to lay a high-voltage cable. Upon completion of the project, the 1,000-megawatt, 1,195-kilometer cable (1,100 kilometers of submarine and 95 kilometers of terrestrial) will connect Azerbaijan and Georgia to the Eastern Balkans. To implement the project, the countries established a joint venture in 2025.

As the head of the Ministry of Economy Levan Davitashvili stated earlier, Georgia has already received guarantees of long-term cooperation from the World Bank, which will help the development of the country's economy.

At the meeting with the World Bank's Vice President for Europe and Central Asia Anna Bjerde they discussed in detail such strategic projects as the submarine energy cable in the Black Sea, which will connect Georgia with the European Union's electricity system, as well as Georgia's internetization program, which has a transformational effect in terms of increasing the country's long-term competitiveness.

In the framework of his visit to the US, Davitashvili met with the Regional Vice President of the International Finance Corporation (IFC) Alfonso Garcia Mora.

During the meeting they discussed IFC's activities in Georgia as well as current and future projects. Attention was focused on the priorities of the Corporation in terms of financing the private sector of the country in such sectors as energy, industry, transportation and communications, as well as further development of the Middle Corridor.

The Georgian delegation participated in the meeting with the representatives of the International Monetary Fund. The participants of the meeting discussed Georgia's macroeconomic indicators, current economic trends and future forecasts, as well as other important issues.

Reprinted from https://sputnik-georgia.ru/