Page 19 - GEORptFeb22

4.3 Fixed investment
Georgia’s fixed capital formation at $966mn in Q3
Georgia’s gross fixed capital formation was at $966.02mn in September 2021, a decrease from $1bn in June 2021.
ABD approves €101mn development loan for Georgia
The Asian Development Bank (ADB) has approved on November 10 a loan of €101mn ($119.9mn) for building and upgrading new and existing infrastructure in Georgia and enhancing services in urban centres to boost economic opportunities and improve quality of life, according to a statement from the lender.
“Georgia has made significant economic gains over the past years, but growth has been unevenly distributed and severely impacted by the COVID-19 pandemic,” said ADB director general for Central and West Asia Yevgeniy Zhukov.
The loan projects would help make Georgia an even more attractive destination and boost business opportunities for local communities, argued ADB principal urban development specialist Ramola Naik Singru.
Projects will upgrade city centres, public spaces, parks and public transport to improve mobility.
Projects will also construct libraries, e-learning centres, kindergartens, sports complexes and other community buildings. The ADB-developed Inclusive Cities Guidelines will be applied for improving accessibility and ensuring a seamless built environment for older persons, persons with disabilities, women and children.
According to the development bank, projects would also include upgrading transport systems, including the Tbilisi Metro.
19 GEORGIA Country Report February 2022 www.intellinews.com