Georgia, US Sign Agreements to Boost Economic Development

TBILISI - The United States Agency for International Development (USAID) will allocate $22 million for Georgia’s economic development, it was announced yesterday.

Georgia’s Finance Minister, Dimitry Kumsishvili, and Director of USAID’s Caucasus Mission Douglas Ball signed three agreements to that effect on Thursday.

Changes were made to previously signed agreements increasing the amount of a preexisting grant to the current $22 million figure.

The Finance Ministry reports that the agreements cover a number of high-priority areas, including inclusive and sustainable economic growth, democratic controls and accountable governance, and a “stable, integrated and healthy” society.

The activities planned within the agreements will be aimed at introducing business standards and increasing competitiveness in various sectors, as well as more effectively managing natural resources and creating market-oriented jobs. Increasing the societal integration of persons with disabilities and of IDPs has also been fingered as a focus. 

By Thea Morrison