MANILA, March 19 (Xinhua) -- The Asian Development Bank (ADB) on Tuesday launched a new country partnership strategy (CPS) to help develop Georgia into a green and inclusive regional gateway.

The ADB said the five-year partnership strategy from 2024 to 2028 aims to support Georgia's sustainable development through sovereign and private sector investments, policy reforms, capacity building, and knowledge.

The CPS focuses particularly on regional cooperation and integration, private sector-led growth, including support for human capital development, and climate action.

The ADB said enhancing connectivity, expanding trade, and strengthening human capital are essential to ensure sustainable and inclusive growth in Georgia.

"They are also crucial to realizing the nation's aspirations to become a regional gateway between Europe and Asia and a member of the European Union," it added.

According to the ADB, the new CPS directly supports Georgia's economic development, social policy and human capital development, and public administration.

The ADB vowed to help Georgia expand its multi-modal transport network, strengthen climate and disaster resilience, and scale up clean energy generation and trade.

The bank will continue to support reforms to strengthen social protection in Georgia, the country's pension systems, and capital markets development, while helping to strengthen the nation's education systems.

The ADB will also help improve the financial viability of Georgia's large state-owned enterprises by enhancing their governance structures and financial frameworks and supporting their participation in capital markets. Enditem

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