19 October 2015
According to the Asian Development Bank Vice President, Wencai Zhang, Georgia's geographical location allows the country to become a regional economic hub. He said that Georgia should further develop its infrastructure, which is an important component of the Silk Road Project.
“Georgia has a geographically important position. It is a transit corridor between Asia and Europe and has a huge potential to become an economic and trade hub.
In the nearest future, Georgia will play a greater role in the economic cooperation with the Asian countries,” – Wencai Zhang said.
As for the Asian Development Bank’s relationship with Georgia, Wencai Zhang claims that the Bank will increase funding in Georgia for the next three years.
“The relationship between the Asian Development Bank and Georgia is quite good. Georgia joined the Bank in 2007. We cooperate in many sectors including transport, energy, water sanitation work, financial sector, capital market development, etc.
Over the next three years, we will assign more funding for the projects in Georgia. If additional financing is needed in the project implementation, we will allocate much more money for this, as well. The Bank continues to finance the transport sector. The energy sector is also important for us. The Asian Development Bank also finances the implementation of sectoral reforms.
As for the terms and conditions of loans for your country, it depends on specific projects,” - the Vice President of the Asian Development Bank stated.
