Georgia secures long-term cooperation pledge from World Bank during US visit

As part of the official visit to the United States, Levan Davitashvili, Georgia's First Vice Prime Minister and Minister of Economy and Sustainable Development, held a high-level meeting with Anna Bjerde, the Managing Director of the World Bank. He was joined by Finance Minister Lasha Khutsishvili and the Governor of the National Bank of Georgia Natia Turnava.

During the discussions, Davitashvili emphasised the vital role the World Bank plays as one of Georgia’s most important development partners. He noted that the current stage of cooperation involves the implementation of strategic projects critical to the country’s long-term development.

“We discussed in detail such strategic projects as the Black Sea submarine electric cable, which will connect Georgia to the EU electricity grid, as well as the nationwide internetisation programme. These projects have a transformative effect on enhancing Georgia’s long-term competitiveness. We received a commitment from the World Bank for long-term cooperation, which is extremely important for the country’s economic growth and overall progress. This cooperation extends beyond financing to include technical assistance, which will support Georgia in building institutional capacity”, the First Vice PM said.

The meeting addressed key priorities in Georgia-World Bank cooperation, highlighting the importance and potential of ongoing and future projects. Special emphasis was placed on the role of the World Bank in supporting Georgia’s macroeconomic stability, civil infrastructure development, and structural reforms.

The Georgian delegation provided the World Bank Managing Director with an overview of current economic trends in Georgia.

It was noted that despite global challenges, Georgia has maintained double-digit economic growth since the post-pandemic period, driven by the Government’s consistent and well-structured policy approach.

Discussions also focused on developing a new cooperation framework with the World Bank for the coming years, ensuring full alignment with Georgia’s economic priorities.