Nodar Khaduri

Georgia’s Finance Minister Nodar Khaduri. (Interpressnews.)

TBILISI, DFWatch–The World Bank is funding a USD 60 million program to support competitive and inclusive economic growth in Georgia.

Signing the formal agreement for the Bank was its Regional Director for South Caucasus, Henri Kerali, and for Georgia, Finance Minister Nodar Khaduri.

Khaduri said that the World Bank’s concessional financial assistance will be spent on increasing the competitiveness of the Georgian economy.

“Georgia is pleased that cooperation with the World Bank is successful in regard to supporting important priorities for Georgia,” the minister said. “I hope the World Bank will continue this support in order to support the Georgian economy in being more competitive and getting closer to European and American economic systems.”

Kerali noted that the program also aims to create jobs and reduce poverty.

The allocation is part of a three-year project. Georgia also received USD 60 million in June 2012, which was the first part of the program.