USD 100 million for Kakheti from World Bank

The World Bank has allocated USD 100 million for Kakheti Regional Development Project, Georgian Finance Ministry reported. According to the Ministry, the project envisages economic development of Kakheti region and “active involvement” of private business sector in the process, together with the international funding, as well as promoting such fields as tourism, agribusiness and hydro energetic projects. The project is expected to be launched in

The details of the project were discussed at the meeting in the Finance Ministry, attended by the Finance Minister, Kakha Baindurashvili, the members of the World Bank and the representatives of the Business Association. According to the Georgian Ministry, the aim of the meeting was to hear the point of view of private businesses representatives about the possible strategy of developing Kakheti region.

“So far we have been focused on carrying out infrastructure projects in the region, such as rehabilitating the roads, drinking water and irrigation systems restoration,” Finance Minister Baindurashvili said “Working in this direction will continue, however at the same time, we are starting a new type of project, which aims at making the region’s economy healthier,” he added.

According to the Minister, the World Bank representatives received information from the Business Association members about current economic projects underway in Kakheti region and what the future plans are. World Bank officials expressed readiness to “actively support” the business sector in terms of carrying out new projects, according to Georgian officials.