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Tuesday, 19 June 2018


ADB regional office opened in Tbilisi

2009-07-20 17:13

Today the Asian Development Bank was opened in Tbilisi. The ceremony was attended by Kakha Baindurashvili, the Minister of Finance, Dimitri Gvindadze, his deputy, and Shaoyu Zhao, the ADB Vice President - Georgia Times.


At the ceremony Kakha Baindurashvli said the ADB portfolio in Georgia reaches USD 300 mln. The bank finances projects like restoration of municipal infrastructure, repair of water pipeline and gas supplies for schools.

In October 2008 the ADB promised to allocate Georgia USD 300 mln in 2008-2010. In 2008 the country received USD 70 mln as budget support and USD 40 mln for implementation of municipal projects. In 2009 the Bank allocated Georgia a USD 80 mln lax credit for support of budget. Since 2009 the Bank has been financing infrastructural projects at the cost of USD 148 mln.

The ADB was founded in 1996, in February 2007 Georgia became its 67th member.


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