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ADB to Expand 1.5 billion USD Investment Portfolio in Georgia

Asian Development Bank (ADB) plans to expand its investment portfolio in Georgia, Minister of Economy and Sustainable Development of Georgia Giorgi Kobulia and ADB representation director Ieshim Elhan-Kaialar noted at today’s meeting. This was a positive and useful meeting and we discussed several important issues, the Minister said.

After the meeting Giorgi Kobulia noted that ADB has implemented projects of about 3 billion USD in Georgia and the current portfolio is about 1.5 billion USD.
“In practice this is 10% of our national product. The bank plans to expand this portfolio, namely we discussed opportunities in power sector, pensions system and PPP projects”, Giorgi Kobulia noted.

The Parties also discussed opportunities for support of small and medium business companies. In this respect ADB has introduced a very interesting program, Kobulia said.
“The bank will carry out technical and financial support to small and medium businesses in regions to connect them with each other – for example, to foster a cooperation between hotels and product manufacturers. The bank will also finance their businesses”, Kobulia noted.