Agreement between Georgia and Asian Development Bank (ADB) Improving Domestic Resource Mobilization for Inclusive Growth Program (Subprogram 3) has been signed.
Georgia’s finance Minister Nodar Khaduri and ADBCountry Director Yesim Elhan-Kayalar signed the document. In the frames of the program ADB will allocate 100 million USD dollars. According to the Minister of Finance, the aim of the program is to mobilize country’s internal resources
The program enhances inclusive growth options by opening up the fiscal space for the government to meet its planned significant funding of inclusive social and economic services.
To achieve this, the program supports fiscal consolidation, improve revenue management, strengthen public expenditure management, enhance the generation of domestic savings, and increase private resource mobilization for investment opportunities, especially for micro, small, and medium-sized businesses.
The three-year program has been finished. Totally the bank has allocated $250 million loan in Georgia.