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World Bank is Pledging Support Towards the Four Point Reform Plan

World Bank is pledging support towards the Four Point Reform Plan of the Government of Georgia. It was reiterated by Ms. Mercy Tembon, Regional Director of the World Bank in South Caucasus at the meeting with H.E. Giorgi Kvirikashvili, Prime Minister of Georgia. Visitor congratulated the Head of the Government …

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Georgia Among the Countries for Whom Nothing is Impossible – Mercy Tembon

Georgia Among the Countries for Whom Nothing is Impossible – Mercy Tembon

Experts from the World Bank will help Georgia improve its position on the Logistics Performance Index (LPI). Georgia’s LPI results and ways of improving them were the subject of discussion between Deputy Minister of Economy Davit Khutsishvili and World Bank’s regional director Mercy Tembon. According to the Ministry of Economy, the …

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World Bank Helps Georgia To Develop Tourism Infrastructure

The World Bank (WB) will allocate Georgia $9 million for the restoration of urban, municipal and tourist infrastructure in Imereti region (Western Georgia) in order to promote cultural and historical monuments as well as attract tourists, Sputnik news agency reported. Financial resources will be allocated for the additional financing of …

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Georgia’s Foreign Debts Grow by 382 million USD

Georgia’s Foreign Debts Grow by 382 million USD

Georgia’s foreign debts marked 4.422 billion USD as of May 1, 2016. According to the Finance Ministry statistics, Georgia’s foreign liabilities rose by 27 million USD month on month and by 382 million USD year on year. As of May 1, 2015, Georgia’s external debts constituted 4.04 billion USD, while …

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WB Forecasts World Oil Demand Growth

WB Forecasts World Oil Demand Growth

World oil demand is projected to increase by 1.2 mb/d to 95.9 mb/d in 2016, said the WB latest Commodity Markets Outlook. According to the outlook, OECD oil demand is projected to be flat, with modest gains in North America offset by losses elsewhere. Non-OECD oil demand is projected to …

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World Bank to Allocate $1B for TANAP Construction

tanap-nabucco

The World Bank (WB) will provide $1 billion for funding of the construction project of the Trans-Anatolian Natural Gas Pipeline (TANAP), the Turkish newspaper Hurriyet reported. Besides the WB’s loan, it is expected that $1.07 billion will be allocated by the European Investment Bank (EIB), according to the newspaper. The …

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China’s AIIB Seeks to Pave New Silk Road with First Projects

Almaty AIIB

China’s flagship international development bank is hoping to pave a new Silk Road, with at least three of its initial projects focused on transport arteries in central Asia and Pakistan. The Asian Infrastructure Investment Bank will help fund a highway in Pakistan, a road project in Tajikistan, and a ring …

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Impact of China on Europe and Central Asia

The economies of Europe and Central Asia (ECA) are facing complex headwinds. Against the backdrop of adverse global developments, the prospects for many ECA economies are for weak growth, at best. However, several of the headwinds also carry seeds for future growth. The collapse in oil revenues and remittances, and …

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