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ADB Predicts Georgian Economy to Grow by 4%

ADB Predicts Georgian Economy to Grow by 4%

The Asian Development Bank (ADB) has approved a $100 million loan to help the government better mobilize domestic resources to address limited availability of finance for small businesses a critical obstacle to inclusive economic development and increase access to long-term finance on 31 August. “ADB will support government reforms to …

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Asian Development Bank Allocates $100 million in Georgia

ADB

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, …

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ADB can Allocate $200M for North-South Project

ADB can Allocate $200M for North-South Project

The Asian Development Bank (ADB) will consider the possibility of allocating a $200 million loan for implementation of the International North-South Transportation Corridor (INSTC) project, said an ADB message on its website. An ADB mission will be in Azerbaijan from Nov. 14 to Nov. 25 in order to gather information …

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ADB Expresses Support to the Government’s four-point Reform Plan

ADB Expresses Support to the Government’s four-point Reform Plan

The Asian Development Bank (ADB) expresses support to the government’s four-point reform plan – the Excutive Directors of the ADB noted in their conversation with Prime Minister Giorgi Kvirikashvili at today’s meeting. The Head of the Government thanked Asian Development Bank for the support and noted that Georgia appreciates ADB’s …

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Tbilisi City Hall Works on Two New Ropeways’ Construction Project

"Tbilisi City Hall" Works on Two New Ropeways' Construction Project

Tbilisi City Hall works on two new ropeways’ construction project. Deputy Mayor Irakly Lekvinadze noted to “business contact”, due to having whole relief in the city, Tbilisi has a good opportunities for ropeways development. “At this stage, the general group is working on this project, as well as the Asian Development Bank, which …

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ADB Names New Director for Azerbaijan

ADB Names New Director for Azerbaijan

Nariman Mannapbekov, who assumed office today as the new Azerbaijan Country Director for the Asian Development Bank (ADB), said he welcomes the opportunity to broaden ADB’s support for the country, including in new areas, according to a message posted on the ADB website Apr. 11. “ADB and Azerbaijan have a …

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Georgia’s External Debts Rise Year on Year

Georgia’s External Debts Rise by $242 million Year on Year

Georgia’s external debts marked 4.324 billion USD as of March 1, 2016, up 24 million USD month on month and up 242 million USD year on year, according to the Finance Ministry statistics. In January 2016 the foreign debts equaled 4.3 billion USD. The figure marked 4.072 billion USD as …

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Asian Development Bank Invests More Money in Georgia

Asian development Bank

Finance Minister Nodar Khaduri and Sean O’Sullivan, Director General of ADB’s Central and West Asia Department have discussed cooperation issues between Georgia and Asian Development Bank at the Ministry of Finance today. Minister of Finance expressed gratitude for the cooperation and financing the projects, which are being carried by the …

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TBC Bank signs three agreements with the Asian Development Bank

TBC Bank signs three agreements with the Asian Development Bank

TBC Bank announces the signing of three agreements with the Asian Development Bank (ADB). As a result, the Bank received a 10-year subordinated loan in the amount of USD 50 million, which is the first such agreement between TBC Bank and ADB. This transaction will further strengthen TBC Bank’s tier …

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Asian Development Bank Increases financing for Georgia

wencai zhang

Asian Development Bank (ADB) is stepping up its financial commitments and committing to providing more money to finance projects in Georgia over the next three years. The Bank’s Vice President Wencai Zhang confirmed ADB would increase its funding to Georgia over the next three years, adding: “if any ongoing project …

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