World Bank Supports Georgia

The World Bank Group Board of Executive Directors has endorsed the 2019-2022 Country Partnership Frameworks (CPF) for Georgia, which aims to support sustainable and inclusive growth and improve living standards in the country.

The new CPF is fully aligned with the government’s vision for the country’s development, which is driven by the "Georgia 2020” program that emphasises freedom, rapid development, and prosperity through four policy goals. The World Bank Group’s CPF envisages support to Georgia across three areas: enhancing inclusive growth and competitiveness, investing in human capital, and building resilience.

“We look forward to a Georgia endowed with human capital that will lift people out of poverty, improve their prosperity, and increase the country’s competitiveness and resilience in the next four years,” said Mercy Tembon, Regional Director for the South Caucasus.

“I would like to thank the Government of Georgia for its commitment and steadfastness during the strategic discussions we had to identify the main priorities. I would also like to express our appreciation to the private sector, academia, civil society and other development partners for engaging with us during this process.”

Building on the strong foundation put in place by the previous Country Partnership Strategy (CPS) for Georgia, the new CPF will work to consolidate gains and move the economy toward addressing next-generation development challenges for sustained and inclusive growth and poverty reduction. To this end, the World Bank Group has committed to allocate approximately $600-800 million for the period 2019-2022.

By Shawn Wayne