Number of Active Projects
The new Country Partnership Framework (CPF) for FY19-22, developed in collaboration with the Government of Georgia and endorsed by the Board on May 22, 2018, aims to support sustainable and inclusive growth and improvements in living standards.
The current active portfolio consists of 11 investment projects with total commitments of US$699 million, of which about US$330 million is undisbursed. About 60 percent of commitments are concentrated in the ongoing East-West Highway and secondary roads projects and 18 percent is in urban development. The remaining 20 percent covers energy, land management and irrigation, and the innovation ecosystem. Three more investment projects in the education, energy, and health sectors are currently at various stages of preparation.
The FY19 lending pipeline includes three operations with total International Bank for Reconstruction and Development (IBRD) financing of about US$220 million. The Georgia I2Q - Innovation, Inclusion and Quality Project (US$100.5 million IBRD loan), the Energy Supply Reliability and Financial Recovery Project (US$70 million IBRD loan), and the Energy Supply Reliability and Financial Recovery Guarantee Project (US$50 million IBRD guarantee) are all scheduled for Board presentation in May 2019.
Four more IBRD lending operations, with total commitments estimated at US$140 million, are envisaged for delivery in FY20.
In addition to the investment portfolio, there is an active program of four recipient-executed trust fund operations of about US$15.4 million, of which roughly 36 percent is undisbursed.
Although the Bank’s investment portfolio is predominantly in infrastructure, the overall partnership is broader, with in-depth dialogue and analytical and knowledge activities in many areas, such as public administration, health, education, and pensions.
In October 2018, the World Bank Group (WBG) launched the Human Capital Project (HCP) at the annual meetings of the WBG and International Monetary Fund (IMF) in Indonesia with the goal of accelerating investments in human capital as a critical step toward boosting inclusive and sustainable growth.
Georgia is one of the “early adopters” of the HCP, participating at the launch of the project and expressing a commitment to promote investments in human capital. The WBG team worked with Georgian counterparts ahead of the meetings to develop Georgia’s Human Capital Index (HCI) and a strategy to accelerate progress in human capital outcomes.
The HCP has created an excellent opportunity to elevate the dialogue on human development in Georgia from the social sector ministries to the ministries of finance and economy and the highest levels of government. The Bank team ensures a “whole of government” approach to human capital development by bringing together all relevant government ministries/agencies to help Georgia develop an action plan to strengthen human capital investments.
Demand for the Bank’s support has grown substantially. The Government realizes that it must boost investment in human capital, including in early childhood development (ECD), as one of the most effective ways to build valuable skills for future labor markets. The Bank is supporting Georgia with investment financing and technical assistance to deliver on its HCP commitment.
The proposed Georgia Innovation, Inclusion and Quality Project (I2Q), which is currently under preparation, aims to improve education innovation, quality, and equity in strategic areas, including ECD, with the aim of generating long-term improvements in human capital and productivity.
Last Updated: Apr 10, 2019