Tbilisi: Minister of Finance of Georgia, Lasha Khutsishvili, French Development Agency (AFD) Head of Eastern Europe, Middle East and Asia Department, Cyril Belie and French Embassy temporary trustee in Georgia, Richard Recena signed an agreement between the French Development Agency and Georgia on the Human Capital Development Program.
The deal sees for the allocation of €100 million by the French Development Agency (FDA) to co-financing the World Bank-funded “Georgian Human Capital Program”. It is noteworthy that the World Bank allocated financial resources of 358,500,000 euros to Georgia for the Human Capital Program.
The objective of the program is to make the human capital supply system in Georgia more efficient and inclusive. The programme will aim to achieve such outcomes such as: increased cost-effectiveness of human capital development in the education, health and social security sectors, increased inclusiveness in education, health, and social security to improve the quality of human capital spending in which sectors, education, health and social care sectors, interconnect digital systems across all directions of human capital delivery.
Before the signing ceremony, a bilateral meeting was held during which the parties discussed cooperation between Georgia and France, the progress of projects supported by the French Development Agency (AFD) in Georgia and the future cooperation Job opportunities.
The Agreement on the Development of Human Capital was signed by and between the AFD and Georgia by H.E. Lasha Khutsishvili, Minister of Finance of Georgia, Cyrille Bellier, Department Head for Balkans, Middle East, and Asia at Agence Française de Développement (AFD), and Richard Requena, Charge d’Affaires of the Embassy of the Republic of France to Georgia.
According to the aforementioned Agreement, Georgia will receive 100 million euros from the AFD as co-financing, with the World Bank, of Georgia’s Human Capital Development Program.
It is important to note that the World Bank provided funding for Georgia’s Human Capital Development Program in the amount of 358 500 000 Euros.
The initiative mentioned attempts to improve the country’s human capital supply system’s efficiency and inclusivity. The program aims to achieve the following results: improved linkages between digital systems in all directions for the supply of human capital in the sectors of education, healthcare, and social security; increased effectiveness of expenditures made for the development of human capital in the sectors of education, healthcare, and social security; increased inclusiveness of human capital for the improved quality of expenditures made in the sectors of education, healthcare, and social security.
Bilateral meeting was held prior to the signing ceremony, during which the cooperation between Georgia and AFD was discussed by and between the participants, along with the performance of projects supported by the AFD in Georgia and prospects of future cooperation.