FM Khutsishvili and World Bank Vice President Collaborates for Georgia’s Development

Georgia: Finance Minister Lasha Khutsishvili assembles with World Bank Vice President Antonella Bassani in Europe and Central Asia. The meeting was attended by Deputy Ministers of Finance Giorgi Kakauridze, Ekaterine Guntsadze, Mirza Gelashvili, and Roland Price, the World Bank Regional Director for the South Caucasus, along with members of the World Bank Group Mission.

The discussions revolved around the comprehensive review of ongoing projects and initiatives supported by the World Bank across both the public and private sectors in Georgia. Minister Khutsishvili provided a detailed overview of the current macroeconomic situation.

The main point of the meeting was the emphasis placed on the preparation of a framework of partnership, known as the Country Partnership Framework (CPF), between Georgia and the World Bank. 

This strategic initiative, scheduled for publication in 2024, is anticipated to serve as a blueprint for collaborative endeavors, facilitating the further advancement of the country’s socio-economic landscape.

Minister Khutsishvili articulated the significance of the updated CPF in catalyzing Georgia’s development trajectory, underscoring its role in aligning priorities and fostering synergies between the government and the World Bank. The forthcoming framework is poised to encompass a spectrum of strategic initiatives aimed at addressing key developmental challenges, ranging from infrastructure enhancement to capacity building and beyond.

As the meeting came to an end, both parties reaffirmed their constant commitment to sustaining active cooperation in the future. The shared vision of making collective efforts to drive positive change and foster inclusive growth underscores the enduring partnership between Georgia and the World Bank.

In conclusion, the meeting between Finance Minister Lasha Khutsishvili and World Bank Vice President Antonella Bassani epitomized a convergence of minds dedicated to advancing Georgia’s socio-economic prosperity. 

Through collaborative and strategic initiatives outlined in the upcoming CPF, the stage is set for a transformative journey toward sustainable development and inclusive growth in Georgia.