The Government of Georgia and the World Bank signed an agreement according to which the World Bank has approved $50 million in financing to Georgia for the Second Programmatic Private Sector Competitiveness Development Policy Operation (DPO), following the decision from the World Bank’s Board of Executive Directors on July 31. “The aim of this operation is to support the Government of Georgia in its efforts to enhance the country’s competitiveness in order to spur inclusive economic growth,” the statement from the World Bank reads.
It is said to be the second in a series of DPOs focused to attain “more inclusive economic growth through policies to stimulate private sector productivity, foster long-term savings and investment, strengthen financial and social safety nets, and create a fair business environment that enables the growth of small and medium enterprises (SMEs) and new firms”.
