Finance Ministry: Georgia is strengthening resilience of its financial sector with WB support

Georgia and the International Bank for Reconstruction and Development (IBRD) signed an agreement, which provides for the allocation of USD 35 million in financial resources for the “Project on banking resolution preparedness in Georgia.”

Georgian Finance Minister Lasha Khutsishvili and the World Bank (WB) Regional Director for the South Caucasus Rolande Pryce signed the document.

President of the National Bank of Georgia (NBG) Natia Turnava, NBG Vice President Ekaterine Mikabadze and representatives of the Finance Ministry and the WB attended the signing ceremony.

The work and measures planned for the future within the framework of the project involving the World Bank will facilitate further refinement and increased efficiency of the NBG’s resolution framework, as well as its alignment with best international practices.