Georgian PM, Asian Development Bank President open new ADB resident mission office in Georgia

Georgian prime minister Irakli Kobakhidze, together with Masato Kanda, the president of the Asian Development Bank, resident mission director Lesley Bearman Lahm, and Georgia’s minister of finance Lasha Khutsishvili, on Friday inaugurated the new office of the Asian Development Bank’s resident mission in Georgia.

In his remarks, Kobakhidze emphasised the long-standing and productive partnership between Georgia and the Asian Development Bank.

“Georgia shares a special cooperation with the Asian Development Bank, which has produced very tangible results. For a long time, the Asian Development Bank has been one of Georgia’s most reliable, important, and development-oriented international partners, and its activities in Georgia are fully aligned with our national priorities. We value the Bank’s contribution to the development of various sectors”, he said.

The prime minister further noted that ADB’s current investment portfolio in Georgia exceeded $5 billion and supported a number of major projects aimed at strengthening the country’s economy and infrastructure.

“The Bank’s current investment portfolio exceeds $5 billion, which is used to finance important projects. I would like to thank the entire ADB team and the Head of the Georgia Resident Mission, Ms. Lesley Bearman Lahm, whose personal support for Georgia has been exceptional”, Kobakhidze noted.

Kanda also stressed that cooperation between the Bank and Georgia continues to deepen.

“Our partnership is strong. At its last meeting, the Asian Development Bank’s committee approved the allocation of more than $1 billion to support the development of Georgia’s private and public sectors, which will contribute to the country’s economic growth through investments. Together, we have achieved progress by supporting large-scale projects, strengthening municipal services, promoting sectoral and institutional reforms, and investing in people”, he said.

“Long before we decided to support Georgia’s economic growth, our goal was to improve the quality of life of the country’s population. Our partnership is built on a solid foundation that includes shared values and joint efforts to ensure a brighter future”, Kanda noted.

In his remarks, Khutsishvili highlighted that ADB’s presence in the country was expanding alongside Georgia’s economic growth.

“The representation of the Asian Development Bank is expanding in line with Georgia’s economic growth. The Bank’s investment portfolio is also increasing. Next year we will mark the 20th anniversary of our cooperation, and throughout this period the Asian Development Bank has become a leading international financial institution for Georgia”, he said.

He highlighted that numerous transformative projects in Georgia have been implemented with the Bank’s support, benefiting both public institutions and the private sector.

“Transformational projects in Georgia have been implemented precisely with ADB’s support. In total, their value exceeds $5 billion and includes investments in both the private and public sectors. Thank you for this cooperation”, he noted.

“We are connected with the Asian Development Bank through the 2024-2028 Partnership Strategy, which outlines the medium- and long-term initiatives of the government of Georgia. We have a very intensive and ambitious cooperation agenda, and we are pleased that the Asian Development Bank will stand by our side. The projects we implement together are truly changing the lives of our population”, Khutsishvili concluded.