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World Bank and IMF to assist Georgia

By M. Alkhazashvili
Tuesday, August 26
A delegation from the World Bank and the International Monetary Fund has taken the decision to assist Georgia due to the Russian aggression.

The Vice President of the World Bank, Theodore Acklers, says that the essence of the Georgian economy is not damaged. However the country is very much dependent on investments and the war could negatively influence the amount of these Georgia can attract. The World Bank is thinking of helping the Georgian government create a new investment fund to attract foreign finance. World Bank experts will also pay the utmost attention to the reconstruction of damaged infrastructure, agriculture and the ecosystem.

Since Georgia completed its Poverty Reduction Programme the IMF has suspended its activities in Georgia, but in the present situation Georgia very much needs its assistance. The IMF leadership has decided to grant further assistance to Georgia but the exact form this will take is still to be decided.