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Tuesday, January 31, 2023

Georgia signs World Bank deal for Human Capital Programme, highway construction

In Georgia, Finance Minister Lasha Khutsishvili and the World Bank Regional Director for the South Caucasus, Sebastian Molineus, stated on Wednesday, March 30, that both signed a €358,500 million agreement for the Human Capital Programme for Georgia.

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In Georgia, Finance Minister Lasha Khutsishvili and the World Bank Regional Director for the South Caucasus, Sebastian Molineus, stated on Wednesday, March 30, that both signed a €358,500 million agreement for the Human Capital Programme for Georgia.

The Human Capital Programme is intended to increase the efficiency of service delivery in the areas of health and social care, as well as it will also increase access to high-quality education in the country, according to the Finance Ministry.

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Moreover, the Program, which was approved by the World Bank Board of Executive Directors last week, will also aim to strengthen the country’s social protection outcomes.

The Ministry also said, “For the first time, the World Bank is using the funding instrument Programme for Results, with the implementation and monitoring of the Program’s operations being “fully based” on Georgia’s existing institutions and systems in the public administration.”

The Ministry will coordinate the project, while the country’s Education and Health Ministries will be responsible for the Program’s outcomes and indicators.

Georgia also signed a deal with World Bank for highway construction in winemaking Kakheti province

Along with this, on the same day, Lasha Khutsishvili and Sebastian Molineus also signed an additional agreement on constructing a 17-km, four-lane, access-controlled highway in Georgia’s eastern winemaking region of Kakheti.

According to the Finance Ministry, the €97.7 million contract would fund the construction of road junctions, bridges, freeways and overpasses, underpasses, and roadside sections, as well as the highway.

The Kakheti Connectivity Improvement Project, which was approved by the World Bank Board of Executive Directors last week, aims to increase traffic volume in Kakheti, make the journey between the province and Georgia’s capital Tbilisi “safer and shorter,” and improve the region’s agricultural and tourism potential.

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