World Bank in 2010-2013 Georgia will allocate $ 900 million

The Board of Directors of the World Bank (WB) on Thursday approved a new strategy of partnership with Georgia in 2010-2013, which foresees a country's loans and grants by $ 900 million, Interfax was told at Tbilisi representation of the WB.

According to the spokesperson of the Mission of Inga Paichadze, of this amount would provide $ 550 million International Development Association (IDA, part of the group WB) and International Bank for Reconstruction and Development (IBRD), $ 350 million - International Finance Corporation (IFC).

"The new World Bank strategy is aimed at promoting economic stability in the country, create and sustain jobs, support the budget and the banking sector, financing of infrastructure projects, mainly relating to restoration and development of transport corridor," - noted Paichadze.

In a new strategy mainly include those projects that the World Bank had promised to finance in the international financial assistance to Georgia to deal with donor countries in October 2008.

In particular, on Thursday the Board of Directors of the World Bank has approved the first of the new strategy IDA credit of $ 147 million, which is intended to finance third project of modernization pave the highway in Georgia, East and West.

This credit is for 30 years with a 5-year grace period, said Paichadze.

World Bank cooperates with Georgia in 1993. During this time the total amount allocated to the country of loans and grants amounted to $ 1,235 billion

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