On 1 May 2015, Minister of Finance Nodar Khaduri and World Bank Regional Director for the South Caucasus Henry Kerali signed the Grant Agreement worth of USD 5 million. The grant is earmarked by the Swiss Agency for Development and Cooperation for the South Caucasus (SDC) for the Second Regional and Municipal Infrastructure Development Project.
The project development objective is to improve the efficiency and reliability of targeted municipal services and infrastructure. This will be achieved by investing in high-priority local infrastructure improvements, and by supporting local self-governments in enhancing their capacity and systems for service delivery.
“The Agreement signed with the Swiss Agency for Development and Cooperation is paramount for establishing effective local self-governance in Georgia. Financial resources enabled for Georgia will foster local budgeting, planning and will improve procedures for effective asset management. It’s noteworthy that the project facilitates business development: infrastructure, water supply, and improved energy systems will propel investment,” – said the World Bank Regional Director Henry Kerali.
“The World Bank continues to support Georgia. With the World Bank’s support, additional financial resources have been mobilized to enable strengthening of local self-governance and better services for the local population,” – mentioned the Minister.
The project to be implemented during 2015-2017 is a joint effort of the Swiss Agency for Development and Cooperation for the South Caucasus and the World Bank.