New ADB Country Strategy to Help Develop Georgia into Regional Gateway
TBILISI, GEORGIA (19 March 2024) — The Asian Development Bank (ADB) today launched a new country partnership strategy (CPS) for Georgia that will help develop the country into a green and inclusive regional gateway.
The 5-year partnership strategy from 2024–2028 aims for sovereign and private sector investments, policy reforms, capacity building, and knowledge to support Georgia’s sustainable development. The strategy includes a particular focus on regional cooperation and integration, private sector-led growth including support for human capital development, and climate action.
“ADB and Georgia have been steadfast partners and we look forward to further helping the country transition to a green and integrated economy—and foster a more resilient and inclusive society,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “We will continue to help Georgia leverage its geographical advantage and extensive free trade agreements to become a regional gateway connecting the Caucasus and Central Asia to Europe and the rest of the world.”
Enhancing connectivity, expanding trade, and strengthening human capital are essential to ensure sustainable and inclusive growth in Georgia. They are also crucial to realizing the nation’s aspirations to become a regional gateway between Europe and Asia, and a member of the European Union. The new CPS directly supports three major priorities in Georgia’s National Development Strategy (Vision 2030)—economic development, social policy and human capital development, and public administration.
“We are proud to maintain our partnership with the government as Georgia continues to develop into a regional transport and trade hub with climate-resilient infrastructure and stronger social security,” said ADB Country Director for Georgia Lesley Bearman Lahm. “ADB will build on its strong foundations as one of Georgia’s largest development partners by providing integrated support for complex infrastructure alongside transformative policy reforms, and enabling private sector development.”
ADB will continue to help Georgia expand its multi-modal transport network, strengthen climate and disaster resilience, and scale up clean energy generation and trade. The bank will continue to support reforms to strengthen social protection in Georgia and the country’s pension systems and capital markets development, while helping to strengthen the nation’s education systems including vocational education and training.
ADB will also help improve the financial viability of Georgia’s large state-owned enterprises by enhancing their governance structures and financial frameworks, and supporting their participation in capital markets.
ADB has supported Georgia since 2007 and is one of the country’s largest multilateral development partners. ADB sovereign and private sector loans to Georgia total $3.9 billion.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
