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WB allocates preferential loan of $92.7M to Georgia

Friday, July 11
The World Bank (WB) has granted a preferential loan of $92.7 million to Georgia. The loan was allocated as part of the WB's Third Development Policy Operation (DPO-3) Program. An agreement was signed for this in Tbilisi on July 9 by the Finance Minister of Georgia Nodar Khaduri and WB Regional Director for the South Caucasus, Henry Kerali.

Minister Khaduri said the agreement is a continuation of the cooperation between the World Bank and Georgia in 2014-2015.

"The agreement fully covers the spheres that are priorities for the Georgian government and corresponds to the strategy of the country's socio-economic development," he said.

For this part, Kerali said that the DPO-3 is aimed at increasing competitiveness and economic growth in Georgia.

"The agreement provides structural reforms in Georgia, as well as supporting the country in meeting commitments under the EU Association Agreement," Kerali said. (