Deputy Minister of Economy Speaks Black Sea Electricity Cable at the World Bank
During his visit to the United States, Deputy Minister of Economy and Sustainable Development Genadi Arveladze met with World Bank Regional Director Koen Davidse. The government reported that the meeting focused on current and future projects involving the Bank, including the ongoing research on the power cable under the Black Sea, which the Georgian side considers important for its energy future.
The Georgian government has been promoting the power cable idea in close cooperation with Hungary. The relevant agreement was signed by Georgia, Azerbaijan, Hungary, and Romania in December 2022 in attendance of the President of the European Commission, Ursula von der Leyen. The EU pledged EUR 2.3 billion for its construction.
Among other issues, according to the Ministry of Economy, the World Bank official recognized structural reforms in private sector competitiveness, infrastructure development, support for small and medium enterprises, innovative ecosystem growth, transport, energy, and corporatization of state-owned enterprises. Deputy Minister Arveladze spoke about the importance of the World Bank participating in the upcoming Silk Road Forum in Tbilisi at the end of October.
Also Read:
- 17/12/2022 – Georgia, Azerbaijan, Hungary, Romania Sign Agreement on Black Sea Electricity Cable
- 12/12/2022 – EU to Invest EUR 2.3 Billion in Georgia-Romania Black Sea Electricity Cable
- 15/11/2022 – Commissioner Várhelyi, Prime Minister Meet with Financial Institutions
This post is also available in: ქართული (Georgian) Русский (Russian)
