“The International Bank for Reconstruction and Development will allocate €46.2 million for enabling development of sustainable agriculture, irrigation and land market in Georgia,” - the Ministry of Finance of Georgia announced.
The agreement was signed earlier today between Finance Minister Lasha Khutsishvili and the World Bank Regional Director for the South Caucasus, Sebastian Molineus. The IBRD is the lending arm of the World Bank.
"Within the first facility under the Green and Sustainable Development Policy of Georgia, €46.2 million will be allocated to the country, which will be channelled to the state budget.
The programme involved commitments by Georgia towards climate change - including sustainable forest management, industrial emission management and generation of renewable energy - as well as procedures for the financial oversight of state-owned enterprises and their forms of governance and improved access to land, water and financial resources," - the Ministry said.
In total, €69.3 million will be allocated as part of the project to improvement of irrigation and drainage services in Kakheti, Shida and Kvemo Kartli, Mtskheta-Mtianeti and Samegrelo-Zemo Svaneti regions of Georgia.
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18/07/2025
