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Giorgi Kobulia: ADB to Expand Its 1.5 Billion Investment Portfolio in Georgia

ADB plans to further expand its 1.5 billion investment portfolio in Georgia – the issue was discussed at today’s meeting of the Minister of Economy and Sustainable Development, Giorgi Kobulia and the ADB Resident Mission Country Director, Yesim Elhan-Kayalar. The Minister later evaluated the meeting as very positive since a numerous topical issues were covered during the conversation.

Giorgi Kobulia noted, that the ADB’s investments in Georgia amount up to 3 billion USD while at this point, the investment portfolio is 1.5 billion USD. “In fact, this sum equals to 10% of our GDP. The ADB is still planning to expand this portfolio – we discussed the possibility of increasing the ADB participation in our energy sector as well as its support in the pension reform and PPP Law implementation,” – the Minister of Economy and Sustainable Development stated.

Active support of the ADB towards the SMEs development was one of the most important issues discussed during the meeting of Giorgi Kobulia and Yesim Elhan-Kayalar. Giorgi Kobulia stated that the ADB introduced the specific project in this direction, which is of outmost importance. “The ADB will provide technical and financial assistance to the SMEs in the regions in order to improve connectivity between the different businesses – for example, between the hotels and producers of the food and beverages. The ADB will also allocate money for the SMEs thus allowing to produce different product or even build new hotels” – the Minister noted.