The Asian Development Bank (ADB) announced on October 29 about the approval of a USD 200 million policy-based loan to support Georgia’s recovery from the COVID-19 pandemic by “addressing key fragilities in the country’s public financial management and social protection systems.”
The loan, part of the Fiscal Resilience and Social Protection Support Program, will help ensure the fiscal sustainability of social protection programs, support government reforms to the national pension scheme and other social protection systems.
ADB said the program will support the management of public exposure to fiscal risks and deepen domestic markets for government securities, which will reduce government debt in foreign currency and minimize refinancing and currency risks that could threaten macroeconomic stability,
According to ADB, the program will complement a USD 100 million loan approved previously in May.
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