PM Meets World Bank Group Executive Directors

Georgian Prime Minister Giorgi Kvirikashvili hosted the members of the World Bank Group (WB) board of Executive Directors.

At the meeting, the Executive Director of the WB and the bank’s representative in Georgia, Frank Heemskerk, stated that the World Bank is ready to support the successful implementation of current and planned reforms by the Government of Georgia.

“Georgia takes 9th place among countries with the most favorable conditions for business, and in the region it is the leader in simplicity of doing business,” Heemskerk noted.

During the meeting, it was noted that the projects and programs implemented through the financial support of the Bank of Georgia are exemplary in the region and facilitate the growth of the social and economic well-being of citizens.

The government’s four-point plan, successful institutional and structural reforms, democratic development of the country, rule of law, effective governance, favorable investment and business environment; flexible tax system and effective steps towards promoting the private sector were also discussed.

According to the Prime Minister, in the process of implementing reforms, the World Bank's financial support and 25 years of successful cooperation are of utmost importance.

Future projects that will be implemented with the World Bank's financial support in 2019-2022 were also underlined. It was noted that the future cooperation strategy, which is currently being developed, will be fully in line with the four-point plan of the Government of Georgia.

The World Bank is one of the firmest and most strategic supporters of the ongoing reforms in Georgia. During the last 25-year period, over $4.3 billion was invested in more than 100 projects in Georgia.

The representatives of the WB also met the President of Georgia, Giorgi Margvelashvili.

By Thea Morrison