MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development of Georgia, Natia Turnava met with the World Bank Regional Director for the South Caucasus, Sebastian Molineus.

The meeting, which was also attended by the Deputy Minister Davit Tvalabeishvili and the representatives of JSC State Electricity System, focused mainly on the ongoing and upcoming priority projects in the energy sector.

Successful cooperation between the World Bank and Georgia in the energy sector, the existing challenges and the priority directions of future cooperation was also covered during the conversation.

Natia Turnava emphasized the role of the World Bank in the development of Georgia’s energy sector and thanked the WB representatives for their significant contribution to the development of energy infrastructure projects, which is a prerequisite for Georgia’s energy security and energy independence.

It is noteworthy that in June this year, Georgia and the World Bank signed a 62 million Euro agreement aimed at implementing a project on rehabilitation of the energy supply and financial recovery. The project aims to increase the reliability of the energy supply in western Georgia by providing financial soundness of the JSC Georgian State Electricity System and assisting it in obtaining long-term commercial financing.