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Tag Archives: ADB

ADB Ranked First on Aid Transparency among Development Organizations

The Asian Development Bank (ADB) ranked first in the 2018 Aid Transparency Index (ATI), an independent measurement of aid transparency spearheaded by British nongovernment organization Publish What You Fund, launched today at the Brookings Institution in Washington, D.C. This is the first time that ADB ranked No. 1 in the ATI, which …

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Takehiko Nakao President of Asian Development Bank Visits Georgia

President of Asian Development Bank, Mr.Takehiko Nakao visits Georgian capital Tbilisi. Mr.Nakao met with ex minister of finance of Georgia Mamuka Bakhtadze yesterday and the president of National Bank of Georgia, where parties discussed current and upcoming projects, evaluated success of cooperation and talked about ADB’s importance on Georgian economy. …

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ADB Grows Investments for Developing Georgia’s Transit and Tourism Potential

Asian Development Bank (ADB) plans to increase investments volume in Georgia and participate in developing such directions as transit and tourism potential. ADB will finance a construction of 24-kilometer road of Kvesheti-Kobi, which is a part of Mtskheta-Stepantsminda motorway. The project calls for building a 9-kilometer tunnel. It should be …

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Asian Development Bank Expects GDP Growth to 4.5% in Georgia

Asian Development Bank (ADB) expects Georgia’s GDP growth to mark 4.5% in 2018 and 4.7% in 2019. The 2018 growth will be lower compared to 2017, the ADB report reads. “Coming reforms in pension system and capital market will encourage investments and savings. Forecast worsening risk is related to expected …

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ADB to Join Kakheti Railway Restoration Project

Kakheti railway infrastructure restoration project will be developed by 2019, Kakheti Governor Irakli Kadagishvili told the Business Course. “This railway will serve both local residents and tourists. Part of the railway crosses vineyards and this is very interesting factor. International experience also exists – tourism combined with railway. Railway infrastructure …

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ADB, Georgia Sign Loan for Tbilisi Metro Improvement Project

Last week The Asian Development Bank (ADB) signed a $14.27 million loan agreement with the Government of Georgia to upgrade and improve the Tbilisi metro, which currently benefits over 300,000 commuters daily. “The project will help meet the growing demand for reliable, safe, and efficient sustainable transport—a high priority of …

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Georgia’s External Debt Rises by 0.545bn USD Year on Year

Georgia’s external liabilities are growing. Over the past year Georgia’s foreign liabilities rose by 0.545bln USD and equaled to 5.01bln USD as of October 31, 2017. According to Ministry of Finance, monthly reports have recorded a slight contraction in debts, down from 5.005bln USD as of September 2017. The figure …

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NenskraHES Project will Continue at an Accelerated Pace

The Partnership Fund discussed construction of Nenskra Hydroelectric Power Plant at the meeting held between the Executive Director of the Fund and delegation of South Korean K-Water. Von Cheol Park, Vice-President of K-Water, Hiang Chin Kain, General Manager of Business Department and General Manager of Nenskra Hydro Business Division are …

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Nikoloz Gagua: ADB’s Support is Important in Terms of Reform Implementation

Nikoloz Gagua: ADB’s Support is Important in Terms of Reform Implementation

It is important that the Asian Development Bank is implementing reforms in Georgia – Nikoloz Gagua, Deputy Minister of Finance saidafter meeting with ADB CEO Matthew Fox. According to him, the Bank’s involvement in theconstruction of the East-West Express Highway, namely the most difficult section of Rikoti,is particularly noteworthy. “The …

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ADB Names TBC Bank as the Best Bank in Trade Financing

 Asian Development Bank named TBC Bank as the best partner for the third time in terms of trade financing in Georgia. The awards ceremony was held in Singapore and over 150 representatives from 17 countries attended the event. The Asian Development Bank has identified 18 best partner banks with which …

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University Underground Station Operate in Test Regime

Tbilisi’s 32rd underground station called as University operates in test regime. Municipal Development Fund told Business Course that the underground station started operation in test regime in late July and the regime will last up to early September. The process is controlled by Georgian and invited specialists. According to Municipal …

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