World Bank Approves EUR 47.2 Mln for Georgia

The World Bank’s Board of Executive Directors approved the Second Programmatic Inclusive Policy Operation Project (DP02) for Georgia, in Washington DC, on April 28.

The DP02 will aim at supporting the Georgian government to improve fiscal oversight of public institutions, advance budgeting and the framework for civil service reform, as well as improve the coverage and quality of social services and strengthen the monitoring of outcomes.

Within the project framework, the World Bank approved financial resources of EUR 47.2 million to Georgia, coming from an EBRD flexible loan.

Minister of Finance of Georgia, First Vice Premier, Dimitry Kumsishvili, met with Cyril Muller, World Bank Vice President, during his working visit to the US last week, where the parties discussed the reforms realized by the Georgian Government within the DP02.

An investor in Georgia since 1992, the World Bank’s capital investment in the country amounts to $2.27 billion.

Nino Gugunishvili