''The Asian Development Bank is one of our largest partners and cooperation with it during the pandemic is of vital importance," Georgian Finance Minister Ivane Machavariani said after signing a loan agreement with ADB.
As part of the loan agreement, Georgia will receive 92,302,000 EUR (100 mln USD) from the Asian Development Bank as part of the program of response to COVID – 19.
Shane Rosenthal, Director of ADB Office to Georgia, signed the deal.
The funds will be spent on the mitigation of the pandemic-caused economic expenses, the improvement of macro-economic conditions, and the population's well-being. The government will focus on the most vulnerable groups of the people that were most affected by the pandemic.
The deal signed with ADB is a part of the financial support the Georgian government attracted from international donor organizations for the aftermath of the COVID-19 pandemic.
The Bank approved the loan on May 28, 2020.
Bela Gelashvili
News Author