MILAN, Italy, May 5. Black Sea Cable project, which envisages supplying green energy from Azerbaijan to Europe, is among priorities of Georgia’s cooperation with the Asian Development Bank (ADB), Lasha Khutsishvili, Minister of Finance of Georgia, ADB governor from this country, said, addressing the business session of ADB Governors, Trend’s special correspondent reports from Milan.
“Energy security and independence through increased renewable generation, ensuring energy security through battery storage and enhanced connectivity and transmission, including through the upcoming Black Sea undersea electricity cable project, road and digital connectivity infrastructure, water and municipal service infrastructure, reforming corporate governance and investing in human capital while introducing innovations such as AI, are among the high priority areas of our agenda,” he said.
Khutsishvili noted that the 58th Annual Meeting of the Bank provides an excellent opportunity for dialogue, networking, and exploring new partnerships.
“Georgia showed exceptional resilience building in its development goals. Starting from the pandemic, nothing has been as stable as uncertainties, but they came in different forms and shapes. On average, Georgia's economic growth for the last four years has reached over 9.5% annually and continues with a strong start of 2025.
Our policy priorities in the challenging environment continue to be maintaining macroeconomic stability and to be prepared for the reversal of temporary positive factors, mitigate negative impacts, and ensure long-term sustainability for the structural reforms and the significant investment projects, as well as deal with geopolitical milestones arising around us,” he said.
The minister noted that Georgia continues successful cooperation with the Bank through its diversified portfolio, around 5.1 billion, for public and private sector.
“We trust and believe in the future cooperation with the ADB in the priority area for Georgia,” he added.