ADB Announces Financial Support Package to Help Asia and Pacific Mitigate Impacts from Middle East Conflict
The Asian Development Bank (ADB) today announced a financial support package to help its developing member countries (DMCs) mitigate the economic and financial impacts resulting from the conflict in the Middle East.
"ADB will deliver rapid, flexible, and scalable assistance to help countries manage immediate pressures and strengthen long-term resilience, notably fast-disbursing budget support and trade and supply chain finance to secure the import of essential goods, now including oil," said ADB President Masato Kanda. "This builds on our strong track record of supporting Asia and the Pacific through periods of global uncertainty."
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Georgian Finance Minister Lasha Khutsishvili met a high-level World Bank delegation to review joint analytical work, technical assistance programmes, and structural economic reforms in Georgia, the Ministry of Finance press service reported on Monday.
The delegation included Abebe Adugna, World Bank Regional Director for Prosperity in Europe and Central Asia, and Rolande Pryce, World Bank Regional Director for the South Caucasus.
Discussions centred on ongoing and upcoming World Bank technical assistance, focusing on analytical work to drive sustainable GDP growth, labour market expansion, and poverty reduction.
“The meeting reviewed current macroeconomic and fiscal policy trends in Georgia, alongside the impact of recent structural reforms on long-term economic resilience,” the Ministry of Finance statement read.
The Georgian delegation also included Deputy Minister of Finance Ekaterine Guntsadze and Acting Head of the Macroeconomic Analysis and Fiscal Policy Planning Department Nino Mikeladze.
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