The Asian Development Bank (ADB) is one of our major partners, and working with them during a pandemic is vital, stated Minister of Finance Ivane Matchavariani after signing the loan agreement with the ADB.
Under the loan agreement, Georgia will receive € 92,302,000 as financial resource from ADB to implement emergency response and cost support program for COVID-19.
On behalf of the Asian Development Bank, the document was signed by Shane Rosenthal – Country Director of Georgia Resident Mission.
Funding will be used to alleviate the economic costs of the situation created by the pandemic, improve macroeconomic conditions and the well-being of the population, with a focus on its the most vulnerable groups, whose livelihoods have been significantly affected by the pandemic.
This agreement signed with ADB is part of the financial support that the Georgian government has received from partner international donor organizations to fight the COVID 19 pandemic and further rehabilitate the country's economy.