Georgia: Finance Minister meets Executive Directors of the ADB to discuss issues

Georgia: Georgian Minister of Finance Lasha Khutsishvili met with the Alternative Executive Directors of the Asian Development Bank (ADB), David Cavena, Ernesto Brahms, and the Director of the Asian Development Bank in Georgia, Shane Rosenthal.

The meeting was also attended by Deputy Minister of Finance Ekaterine Guntsadze and Deputy Director of the Asian Development Bank in Georgia Kamel Bumadi.

The sides discussed issues of cooperation between Georgia and the Asian Development Bank, both in bilateral and multilateral formats.

The Minister of Finance informed the guests about the macroeconomic and fiscal parameters in the country, export-import statistics, and more.

The conversation focused on the ongoing projects supported by the Asian Development Bank, both in the public and private sectors. Once again, the importance of timely financial assistance provided by the ADB in the fight against COVID-19 was underlined.

As noted at the meeting, despite the challenges in the region and the world, Georgia continues to reform in areas such as: strengthening the country’s infrastructure to support competitiveness, strengthening energy independence and security, promoting a green economy and more. In terms of structural reforms – capital market development, state-owned enterprise reform, private sector support, and public finance management.

For his part, the alternate CEO of the Asian Development Bank underlined the progress made by Georgia in recent years, both in terms of structural and economic reforms, and noted that the Asian Development Bank continues to support the country.

At the end of the meeting, the parties agreed to continue active cooperation in support of Georgia’s priority sectors and reforms.