The World Bank has approved US$60 million in International Bank for Reconstruction and Development (IBRD) financing that will be used to help develop Georgia's hydroelectric power sector.
The World Bank said the funding's primary goal is to strengthen the power transmission system in the country's southwestern grid, though it will also be used to support proposed hydropower projects along Georgia's Adjaristsqali River.
"The Georgian economy needs affordable, reliable and clean sources of power," said Joseph Melitauri, team leader for the World Bank's Transmission Grid Strengthening Project. "Georgia is endowed with untapped hydropower potential, which is comparable to that of the leading hydropower producing countries in the world. The project will enable more secure and reliable supply of power to Georgia and the Adjara region in particular."
The project also contributes to the country's Socioeconomic Development Strategy 2020 and the World Bank's new Country Partnership Strategy for Georgia.