Prime Minister Irakli Garibashvili on Wednesday hosted Masatsugu Asakawa, President of the Asian Development Bank (ADB), in Tbilisi for the Conference of Central Asia Regional Economic Cooperation (CAREC), discussing prospects of cooperation in various sectors of the economy.

The meeting underscored the importance of the existing collaboration between Georgia and the ADB. Garibashvili emphasized Georgia's appreciation for the ADB portfolio, comprising 18 investments totaling USD 1.9 billion, contributing to the overall ADB portfolio of USD 4.5 billion.

High on the agenda was a “comprehensive review” of Georgia's current economic standing, fiscal health, and budget parameters. The Government press office said. The leaders acknowledged the necessity of sustaining the positive momentum achieved in 2023, particularly in economic growth. Garibashvili stressed the “pivotal role” played by an empowered private sector in driving economic advancement, crediting the ADB for its instrumental role in this process.

The meeting also highlighted Georgia's commitment to investing in reforms aimed at simplifying business processes and implementing key infrastructure projects. These efforts, it was noted, contribute to Georgia's identification as a potential hub for transit, logistics, tourism, and business.

Garibashvili also expressed pride in Georgia's upcoming role as the host for the Annual Meeting of the ADB in 2024, marking a “milestone achievement” for the country, the press office added.