The Asian Development Bank helps Georgia in improving power transmission infrastructure

21/09/2021

16:46

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The Asian Development Bank (ADB) has approved a $ 100 million budget loan to support the Georgian government’s efforts in order to strengthen the electricity sector by improving the corporate governance and financial management of its operating structure, the country’s power transmission company and its subsidiaries.

Under the Electricity Transmission Sector Reforms Program, ADB will assist JSC Georgian State Electrosystem in carrying out institutional reforms to transform it into a modern, operationally efficient and financially viable corporate organization.

Georgia has been a member of ADB since 2007 and has been one of the Bank’s largest multilateral partners in promoting the development of the country. The total amount of loans issued to Georgia is $ 3.92 billion, while technical assistance projects amount to $ 28.9 million. The ADB’s development priorities in Georgia include expanding trade, creating more jobs, and overcoming poverty through the development of economic corridors.

The ADB aims to contribute to the successful, multifaceted and sustainable development of Asia-Pacific region. At the same time, it continues to work to eradicate extreme poverty in the region. Founded in 1966, the organization brings together 68 countries, including 49 from the Asian region.

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