Georgia has received 5 million USD grant for improving municipal infrastructure and services in regions
Today a grant agreement has been concluded between Georgia and International Bank for Reconstruction and Development (IBRD), signed by the Minister of Finance - Nodar Khaduri and the World Bank Regional Director for the South Caucasus – Henry Kerali. The ceremony of signing was attended by Ilia Darchiashvili, director of Municipal Development Fund of Georgia. The Municipal Development Fund of Georgia is the legal entity of pubic law under the Ministry of Regional Development and Infrastructure that will be responsible for disposal of the above grant.
The document implies allocation of 5 million USD grant by the Swiss Agency for Development and Cooperation (SDC) with the financial support of the World Bank, for funding of associate events of the “Second Project of Regional and Municipal Infrastructure Development”.
“The World Bank continues to assist Georgia. With its support, additional financial resources have been engaged that will be used to strengthen local self-governments, so that communities in regions are provided with appropriate services”, - the Minister of Finance Nodar Khaduri noted.
According to the director of the Municipal Development Fund, Ilia Darchiashvili, the received financial aid will promote close and effective cooperation between the Municipal Development Fund and local self-governments.
“The grant agreement that was signed today will be used to improve and strengthen capabilities of local self-governments. The works performed within a framework of the grant will help self-governments to better manage their budget and assets”, - Ilia Darchiashvili said.
“The grant agreement that was signed today with the Swiss Agency for Development and Cooperation is essential for establishment of effective local self-government system Financial resources allocated for Georgia will help improve procedures of budgeting, planning and effective management of assets. It is important that the project also supports business development in various directions including improvement of infrastructure, water supply and electric power systems, which will promote attracting private investments to the regions”, - the World Bank Regional Director for the South Caucasus Henry Kerali said.
30 million USD worth financial resources have already been allocated by the World Bank for the above-noted project. Implementation of the project is expected in 2015-2017.
