18.Sep .2020 18:24

Georgian Finance Minister elected chairman of ADB board of governors for one year

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Georgian Finance Minister Ivane Matchavariani has been elected chairman of the board of governors of the Asian Development Bank for one year, announces the Ministry of Finance of Georgia.

Matchavariani was appointed to the position during the 53rd annual meeting of the ADB held online on September 17-18.

Speaking at the event, Matchavariani emphasised the ADB's efforts in helping Georgia fight the spread of Covid-19 and at the same time pointed to several sectors that would need further support from the bank.

“First and foremost, we need to continue and strengthen economic and structural reforms that will help sustain the economy. We need to strengthen the role of the private sector in the economic recovery process, and in this regard, the Asian Development Bank can make a significant contribution. It is also important to develop human capital, for which it is necessary to reform the education and health systems. The Asian Development Bank has extensive experience in supporting reforms and needs to focus on this in the long run", said Matchavariani.

He also talked about the importance of regional cooperation and integration. Matchavariani said that Georgia supports a free trade policy.

“It is essential to develop transport infrastructure, trade, and customs relations with the bank’s member and border countries. We must build our future on the principles of greater integration, greater openness, and fewer barriers”, Matchavariani said.

At the end he highlighted the importance of holding the ADB annual meeting in Georgia in 2021 during which about 5,000 high-ranking guests will visit the country.