H.E. Lasha Khutsishvili, Minister of Finance of Georgia met H.E. Masato Kanda, President of the Asian Development Bank (ADB), who is visiting Georgia for the first time in his capacity as the ADB President.
At the meeting held at the Ministry of Finance of Georgia, the parties reviewed the long-standing cooperation between Georgia and the Asian Development Bank.
As noted during the discussion, the Asian Development Bank has been an extremely valuable partner for Georgia since the very beginning of their cooperation, making a significant contribution both to infrastructure development and to the implementation of structural reforms. Currently, the Bank’s portfolio in Georgia exceeds 5 billion USD.
Particular attention was given to ADB’s involvement in major infrastructure projects aimed at strengthening Georgia’s capabilities and position within the transport infrastructure of the Middle Corridor.
Lasha Khutsishvili briefed Masato Kanda on the country’s macroeconomic and fiscal parameters, as well as on Georgia’s efforts aimed at strengthening energy security, enhancing competitiveness and accelerating the construction of transport infrastructure of regional and international importance. The discussion also covered the role of the Asian Development Bank in supporting the development of the private sector.
It was noted that the Asian Development Bank was the first international financial institution (ADB) to provide Georgia with a sovereign loan in the local currency.
For his part, Masato Kanda spoke about the importance of the partnership between Georgia and the Asian Development Bank, both bilaterally and regionally. As he noted, the Bank will continue to support Georgia’s ambition to position itself as a regional gateway between Asia and Europe. According to him, the expansion of the Asian Development Bank’s representative office in Georgia reflects the growing partnership and the broad scope of cooperation between the Bank and Georgia.
The meeting was attended by Deputy Ministers of Finance Giorgi Kakauridze, Ekaterine Guntsadze and Tsotne Kavlashvili; Leah Gutierrez, DG CWRD; Lesley Bearman Lahm, ADB Coutry Director for Georgia; Keiichiro Inui, Chief Advisor to ADB President; Eric Aelbers, Senior Advisor to ADB President and Bernard Woods, PD DOCK.