Asian Development Bank (ADB) President Masatsugu Asakawa and Georgia’s Minister of Finance Ivane Matchavariani discussed how ADB can support Georgia in its fight against the COVID-19 pandemic.
“ADB is fully committed to supporting Georgia at this unprecedented time and we are considering every option to ensure support is provided quickly and effectively. ADB is ready to work with the government and key partners on countercyclical support that will enable it to meet the needs of the people most affected. Significant efforts are also underway to ensure that we can provide further support to the private sector”, - said Asakawa.
He recognized that Georgia has been a leading reformer and this has positioned the country well to deliver its response to the pandemic, including through tax concessions to the hard-hit tourism industry, capital expenditures to provide economic stimulus, and expanding access to funding for micro, small, and medium-sized enterprises and private individuals. These measures will ensure that Georgia is able to use resources effectively and lay the foundation for a quicker recovery.