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World Bank approved allocation of $ 40 million to Georgia

2011-07-26 17:49

World Bank approved allocation of $ 40 million to Georgia. 20067.jpegThe World Bank approved allocation of a loan of $ 40 million to Georgia. As the "Business-Georgia" reported, this decision was made on the eve by the Board of Executive Directors of the World Bank. These funds will be allocated in frameworks of the third operation for policy of Development "supporting reforms, aimed at the continuation of economic recovery and preparation for post-crisis growth", said in the report of World Bank.

This loan is the third and last in the program. It should assist the Government of Georgia to maintain the country's budget in the course of carrying out strategy reforms. In the short term this is mitigating effect of the current economic decline, and in the medium term - support of the processes of recovery of the Georgian economy as well as preparation for the growth of economy after the crisis.

"We have allocated funds for support of reforms under this program which have helped the economic recovery of Georgia in 2010-2011. They have also provided health insurance to 900 000 people and the specialized social assistance - to 440 000 people" - said in an interview the regional director of the World Bank of the South Caucasus Asad Alam.

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