Georgia: World Bank Approved $50 Million in Financing of Second Programmatic Private Sector Competitiveness Development Policy Operation

The FINANCIAL — The World Bank’s Board of Executive Directors approved on July 31st, 2017, $50 million in financing to Georgia for the Second Programmatic Private Sector Competitiveness Development Policy Operation.

The aim of this operation is to support the Government of Georgia in its efforts to enhance the country’s competitiveness in order to spur inclusive economic growth. This is the second in a series of DPOs to achieve more inclusive economic growth through policies to stimulate private sector productivity, foster long-term savings and investment, strengthen financial and social safety nets, and create a fair business environment that enables growth of small and medium enterprises (SMEs) and new firms. Taken together, the package of reforms provides a clear signal about the government’s intention to implement a policy framework that can boost business confidence and spur economic growth, while maintaining macroeconomic stability, according to the World Bank.