27 Mar 2023 16:00

World Bank board of executive directors approves two new projects for Georgia in environment, agribusiness area

TBILISI. March 27 (Interfax) - The World Bank's board of executive directors has approved two new projects for Georgia, with the first one totaling $75 million for the Georgia Resilient Agriculture, Irrigation, and Land (GRAIL) Project, and the second one totaling $50 million for the First Green and Resilient Georgia Development Policy Operation (DPO), the World Bank's regional office for the South Caucasus said in a press release posted on its website.

"Georgia, like many other countries, is exposed to climate change and has an opportunity to step up its mitigation and adaptation efforts," Sebastian Molineus, World Bank Regional Director for the South Caucasus, was quoted as saying in the press release. "We are delighted that both projects focus on addressing climate-related challenges. Through these projects, we will also support Georgia as it embarks on its 'last mile' structural reforms that will help the country overcome the middle-income trap and align state institutions to EU requirements," he said in the press release.

Molineus emphasized that thanks to the GRAIL project, access to irrigation and drainage services will improve, which is expected to increase agricultural production in the country.

"As the project will address climate-related challenges and support development of national irrigation and land management systems capacity, it will definitely bring benefits to farmers in Georgia," Otar Shamugia, Minister of Agriculture and Sustainable Development of Georgia was quoted as saying in the press release