The World Bank approved on July 29 USD 50 million loan for Georgia as part of the Bank’s direct budgetary support to Georgia.

The loan installment is second in series of Development Policy Operation (DPO) designed by the World Bank “to back the key objectives of the government’s policy reform agenda.” The first instilment of USD 85 million as part of DPO was allocated to support “a countercyclical fiscal stimulus to mitigate the economic downturn during 2009,” according to the World Bank.

It said that the USD 50 million loan will support “an orderly transition in the government’s focus from immediate mitigating measures toward facilitating recovery and preparing Georgia for post-crisis growth.”