FM Lasha Khutsishvili highlights Georgia’s economic strength at ADB Annual Meeting

Tbilisi: Within the scope of the Annual Meeting of the Asian Development Bank(ADB), a landmark event has been held in the form of a Business Session of ADB Governors. Lasha Khutsishvili, Minister of Finance of Georgia and ADB Governor, spoke at the event, focusing on the role of the Bank in supporting the region through making significant changes.

As he noted, a key principle of the ADB and other development partners should be flexibility and decisive action in response to pressing challenges. He added that by quick recovery of the economy, Georgia had demonstrated its commitment towards a sustainable development policy.

Adding further, Khutsishvili stated that the country had had double-digit economic growth for two years in a row. He claims that strong economic and fiscal parameters give a solid foundation for long-term strategic planning.

“Georgia continues successful cooperation with the Bank through its diversified portfolio (approx. USD 4.5 billion) for public and private sectors. We trust and believe in future cooperation with the ADB in the priority areas for Georgia.

Energy security and independence through the increased green and renewable generation and enhanced connectivity in transmission, including the upcoming Black Sea Undersea cable project, road and digital connectivity infrastructure, reform of the corporate governance and investment in human capital are amongst the high priority areas on our agenda.

To bridge towards the bright future, we all require a strong regional synergy and support of the development partners, and I wish all of you and our cooperation a great success in rebounding stronger,” added Lasha Khutsishvili, Minister of Finance of Georgia and ADB Governor.

The Business Session of the Board of Governors is the main meeting of the Governors that takes place during each ADB Annual Meeting. Governors adopt resolutions; take note of and approve documents related to the business, finance, administration, and operations of ADB; and provide guidance and direction to the institution through Governors’ statements, strategic documents, regulations and reports.

Zurab Kvaratskhelia

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