Georgian Foreign Affairs Committee supports ratification of Loan Agreements between Georgia and the Asian Development Bank

14/12/2021

20:28

Economic

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The loan agreements signed between Georgia and the Asian Development Bank were discussed at the meeting of the Foreign Affairs Committee.

As the First Deputy Minister of Finance, Giorgi Kakauridze explained, both agreements were signed on October 28, 2021.

According to one of the agreements, Georgia will receive € 12,179 million as financial resource from ADB to implement emergency response and cost support program for COVID-19. The term of the loan is 10 years. The estimated completion date of the project is April 30, 2023.

According to the second loan agreement, within the framework of the COVID-19 vaccination support project, the bank will provide a loan of 464 thousand Euros to Georgia, the duration of which is 22 years.

The investment component of the project aims to enhance the capacity of the project executive agency, which also includes providing the agency with staff and experts and training. The estimated completion date of the project is April 30, 2023.

The Foreign Affairs Committee supported the ratification of the presented agreements.

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