H.E. Lasha Khutsishvili, Minister of Finance of Georgia and Sebastian Molineus, World Bank Regional Director for the South Caucasus signed Loan Agreements concluded by and between Georgia and International Bank for Reconstruction and Development (IBRD) for Enabling Green and Sustainable Development of Sustainable Agriculture, Irrigation and Land Market in Georgia.
Within the scope of the first facility under the Green and Sustainable Development Policy of Georgia, €46.2 million will be allocated to the country, which will be channeled to the State Budget. Program envisages commitments to be assumed by the country towards climate change (sustainable forest management, industrial emission management and generation of renewable energy), mitigation of contingent liabilities and fiscal risks (procedures for the financial oversight of state-owned enterprises and their forms of governance), and improved access to land, water and financial resources (national spatial data infrastructure, settlement systems and payment services).
Sustainable Agriculture, Irrigation and Land Project of Georgia envisages the allocation of €69.3 million to the country. Main goals of the initiative are to improve the irrigation and drainage services, as well as agriculture enterprises in Kakheti, Shida and Kvemo Kartli, Mtskheta-Mtianeti and Samegrelo-Zemo Svaneti; institutional building facility for national irrigation and land management for sustainable climate planning. Project envisages investments in the irrigation sector, land and agriculture that will promote the development of the sector at large.