The Vice-President of the Asian Infrastructure Investment Bank (AIIB), Mr. Konstantin Limitovskiy successfully concluded a visit to Georgia, aimed at advancing cooperation and deepening partnership between Georgia and the AIIB.
During the visit, Mr. Limitovskiy had productive meetings with government officials and private sector representatives. These included, for example, a meeting with Ms. Ekaterine Guntsadze, Deputy Minister of Finance (MoF) and a meeting with Mr. Levan Davitashvili, the Minister of Economy and Sustainable Development (MoESD) together with Ms. Salome Gagua, Head of Division for Asia-Africa Region of the Trade Development, and International Economic Relations Department. Through these meetings, Vice President Limitovskiy reinforced the Bank’s commitment to sustainable development and economic growth in the region and explored with MoF and MoESD on avenues for financial cooperation and investments to support Georgia’s green infrastructure and sustainable development initiatives.
Furthermore, Vice President Limitovskiy met with Deputy Minister of Regional Development and Infrastructure (MRDI), Ms. Mzia Giorgobiani, and Ms. Salome Tsurtsumia, Deputy Head of the Roads Department. The meeting focused on discussing projects that promote cross-border connectivity and transportation infrastructure, with a shared vision to stimulate sustainable economic development in Georgia.
“I am delighted with my visit to Georgia, impressed with the country’s strong economic growth post the Covid-19 and the government’s commitment to promoting sustainable development. Georgia is a founding member and great development partner of AIIB.”, said Konstantin Limitovskiy, AIIB’s Vice President for Investment Operations (Region 2: Pakistan, Afghanistan, Central Asia, East Asia, West Asia, Europe, Africa and Latin America), “Along with the economic growth, I see there is a great potential and increasing needs for Georgia and AIIB to work together in infrastructure development for promoting digital infrastructure, renewable energy, transport and regional connectivity.”.
To date, the AIIB has approved four projects in Georgia totalling over 350 million USD. The Emergency COVID-19 Response Project and Management and Competitiveness program is designed to mitigate the impact of the pandemic and enhance Georgia’s public health preparedness, while the TBC Bank COVID-19 Credit Line Project, aims to provide liquidity to TBC to assist COVID-19 affected SMEs in Georgia. The AIIB also provided financing to the Batumi Bypass Road project in the West of the country.
The visit represents a significant milestone in continued partnership between Georgia and AIIB as they work together to develop green infrastructure and digital connectivity for the country’s future economic development.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 106 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity. Having reached its first corporate commitment on July 1st, AIIB projects are now also fully Paris Aligned.
