Georgia: Third Poverty Reduction Support

WASHINGTON, June 14, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:

 

IDA CREDIT: US$20 million

TERMS:  Grace Period= 10 years; Maturity= 40years

OBJECTIVE: The objective of the project is intended to continue to support the

reform program of the Government of Georgia described under the framework of the Poverty Reduction Strategy Paper (PRSP) Update of August 2006 (or EDPRP Update as it is known in Georgia) in the implementation of policy reforms to fight corruption, reduce the burden of the state on the economy, move the energy sector towards higher efficiency and sustainability lay the basis for higher employment and rising standards of living of Georgians, and develop a fiscally-sustainable social safety net.

For more information, please call Steven Jouy at (202) 473-4215 or email:

sjouy@worldbank.org