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World Bank Vice President to Visit Georgia

June 9, 2010

TBILISI, June 9, 2010― World Bank Vice President for Europe and Central Asia, Mr. Philippe Le Houérou, will travel to Georgia from June 11 to 14. The aim of his visit is to discuss with the country’s leadership, senior government officials, development partners, business community, and civil society the recent economic and social developments, and the possible ways in which the World Bank can support the economic recovery in the country.

“I am pleased to see the resurgence of growth after the economic crisis and we need to work together to help strengthen the foundations for this nascent economic recovery and promote job creation", said Mr. Philippe Le Houérou. “The World Bank is providing financing to support programs to stimulate growth and new jobs, and support the poor and the vulnerable. These include key road works, social spending for the poor, water and municipal services, and the rehabilitation of primary health care centers and secondary schools".

While in Georgia, Mr. Le Houérou will visit World Bank supported project sites -- an IDP settlement, parts of the East-West highway, a primary health care facility, the National Examination Center, and the SCADA Power Control Center.

The World Bank launched the Georgia Country Partnership Strategy (CPS) for the years 2010-2013 in September 2009. The Georgia CPS was prepared against the backdrop of twin crises - the August 2008 conflict followed by the global economic downturn - and focuses on addressing post-conflict and vulnerability issues, as well as strengthening the foundations for competitiveness and growth in the future. In 2009, the Bank made commitments on new loans and credits of $ 290 million. World Bank commitments to Georgia total approximately US$1.4 billion for 49 projects.