Home / Tag Archives: asian development bank

Tag Archives: asian development bank

Finance Minister met with ADB Executive Director

Finance Minister met with ADB Executive Director

Finance Minister Nikoloz Gagua met with Mr. Helmut Fischer, Executive Director of Asian Development Bank. The sides emphasized the importance of successful partnership between Georgia and ADB. They reviewed ongoing and planned projects supported by the Bank in the country. The Minister of Finance has introduced those reforms to the Executive …

Read More »

Asian Development Bank to Finance Construction of Khevi-Ubisa Section

Asian Development Bank to Finance Construction of Khevi-Ubisa Section

The Asian Development Bank (ADB) will finance construction of Rikoti Pass road, Khevi-Ubisa 12.2 km section. The First Deputy Minister of Regional Development and Infrastructure of Georgia Irakli Karseladze, along with representatives of Asian Development Bank discussed the issue of financing of the Khevi–Ubisa section, reviewed the progress of the …

Read More »

ADB Upgrades Economic Growth Outlook for Georgia

Asian Development Bank (ADB) has upgraded economic growth outlook for Georgia. According to the new report, ADB forecasts 4.2% upturn in Georgian economy in 2017 and 4.5% upturn in 2018. The previous forecast was 3.8% and 4.5% respectively. Georgia is recorded in the Central Asia Group, where economy is expected …

Read More »

Acquisition of Lands for Construction of Batumi By-pass Road Ends

Acquisition of Lands for Construction of Batumi By-pass Road Ends

Acquisition of lands for construction of 14.3 km Batumi bypass road is finished. Giorgi Kakauridze, deputy finance minister declared about acquisition and loan agreement with donors at the parliament. The Asian Development Bank has allocated a loan of $ 114 million with maturity of 24 years (108.2 million) and grace …

Read More »

ADB Raises 2017 Growth Forecast for Developing Asia to 5.9%

The Asian Development Bank raises Developing Asia’s 2017 growth forecast to 5.9% from 5.7% in its latest Outlook supplement. Inflation forecast cut to 2.6% from 3%. China 2017 GDP forecast raised to 6.7% from 6.5%; 2018 at 6.4% Inflation cut to 2% from 2.4%; 2018 at 2.6% India 2017 GDP forecast …

Read More »

ADB Allocates 80 million USD Loan for Dzirula-Chumateleti Road Restoration

ADB Allocates 80 million USD Loan for Dzirula-Chumateleti Road Restoration

Asian Development Bank (ADB) has approved an 80 million USD loan with the aim to finance a restoration of road infrastructure of domestic importance. The project calls for rehabilitating Dzirula-Chumateleti 50-km section via the town of Kharagauli. The project implementation is to enhance workload of the mentioned section for domestic …

Read More »

Asian Development Bank Increased Georgian Economic Growth Forecast

Asian Development Bank Increased Georgian Economic Growth Forecast

Asian Development Bank (ADB) improved Georgian economic growth forecast. According to the new report, the bank expects Georgian economic growth of 3% this year; the previous forecast has been 2, 5%. However, GDP growth forecast is grown from 3, 5% to 4% by the next year. In the same report, ADB …

Read More »

ADB Allocated Credit Line to Basis Bank

ADB Allocated Credit Line to Basis Bank

Asian Development Bank has allocated credit line to Basis Bank in order to support trade development. The volume of allocated sum amounts to 3 million USD within the frame of TFP. The mentioned program significantly expends operation in the Central Asia and Caucus region. It has been noted, that geographical …

Read More »