Number of Active Projects
The Country Partnership Framework (CPF) for FY19–22, supports the Government of Georgia’s vision of developing a market-based economy while ensuring nationwide prosperity and strengthening its regional position. The CPF supports sustainable growth across three focus areas: (i) enhancing inclusive growth and competitiveness; (ii) investing in human capital; and (iii) building resilience. The Performance Learning Review (planned for the fourth quarter of FY22), which proposes the extension of the CPF by one year, adjusts the program to reflect COVID-related developments and an increased focus on a green and resilient recovery and inclusive development.
The current active lending portfolio includes 14 investment projects with a total commitment of US$1.42 billion, out of which US$422.7 million (29.7 percent) is disbursed. Fourteen percent of the commitment is in sustainable development, 34 percent in infrastructure, 43 percent in human development, and 9 percent in equitable growth, finances, and institutions. In addition, the portfolio includes two recipient-executed trust fund operations of about US$5.76 million.
Two large-scale operations were delivered in FY22: the Georgia Human Capital Program for Results (US$400 million) and the Kakheti Connectivity Improvement Project (US$109 million). The Human Capital Program for Results is the first Bank operation to comprehensively target all three facets of human development: education, health, and social protection. The FY23 lending pipeline includes four projects: the first in a programmatic Development Policy Operation series focused on green, resilient, and inclusive development (US$50 million); the Georgia Resilient Agriculture, Irrigation, and Land Project (US$200 million); the Integrated Regional and Local Development Project (US$50 million); and the Emergency Preparedness and Resilient Critical Infrastructure Project (US$50 million).
The knowledge program includes seven activities totaling US$5.12 million in governance, macroeconomics, finance, innovation, energy and extractives, poverty, and equity.
The World Bank is committed to unlocking the economic potential of Georgia through greater investment in human capital as the key driver of the country’s growth. The US$400 million Georgia Human Capital Program, approved by the World Bank’s Board of Executive Directors in March 2022, is the largest cross-sectorial financing ever extended to Georgia by the World Bank over the 30 year partnership. This transformational program aims to support Georgia in reforms focused on refining the health and social protection systems to better orient them toward people’s needs and to ensure access to high-quality education for the next generation.
The World Bank supports human capital development in Georgia through one other ongoing critical program, the Innovation, Inclusion and Quality Project (I2Q), which aims to help Georgia to narrow the skills gap between learning outcomes and labor market expectations.
World Bank support for Georgia’s COVID-19 response will also strengthen the health sector of Georgia beyond the pandemic. Along with the emergency response measures, such as procurement of critical COVID-19-related medical equipment, vaccines, and social assistance packages, this support will also enable the upgrade of hospitals across the country, which will continue to benefit Georgia even after the pandemic is over. Additionally, in order to help the jobs agenda and to boost the digitalization of Georgia’s business sector, the World Bank has provided support to over 6,000 micro, small, and medium-sized enterprises that were the hardest hit by the crisis.
Georgia’s digital transition has been also supported through another critical Bank project, the Log-In Georgia Project, which will connect up to 500,000 people residing in over 1,000 villages in the mountainous and remote regions to high-speed affordable broadband internet, granting access to digital financial services, e-commerce, e-government services, remote learning, and telemedicine.
The World Bank continues to support Georgia’s aspiration to become a regional transit hub. Most recently Georgia was provided with US$109 million in financing for the Kakheti Connectivity Improvement Project (KCIP), which will help connect Georgia’s key winemaking and agricultural center, the Kakheti region, to the capital city and to the country’s highway network. To improve Georgia’s regional connectivity and thus boost the country’s growth potential, the World Bank has provided over US$1 billion in total financing for infrastructure projects over its 30-year partnership, including for development of the East-West highway and for the rehabilitation of the secondary and local road network across Georgia.
Last Updated: Apr 19, 2022