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Gvinadze & Partners

Gvinadze & Partners assists ADB strengthen corporate governance of Georgia’s state-owned enterprises

We are delighted to continue to assist the Asian Development Bank (ADB) in its important effort to improve the institutional capacity and corporate governance of state-owned enterprises in Georgia. ADB has recently approved a $100 million policy-based loan to deepen Georgia’s reforms to fiscal management, capital markets, and its pension system. The second subprogram of the Fiscal Resilience and Social Protection Support Program builds on the accomplishments of the first subprogram approved in 2020, which helped improve Georgia’s macroeconomic resilience during the COVID-19 pandemic. ADB’s second subprogram supports policies aimed at improving institutional capacity to manage fiscal risks stemming from disasters triggered by natural hazards and climate change, and weak corporate governance in state-owned enterprises. Please visit https://www.adb.org/news/100-million-adb-loan-further-strengthen-georgia-fiscal-resilience for more detailed information.

Georgia joined ADB in 2007, and the bank has since become one of the country’s largest multilateral development partners, with committed loans amounting to $3.92 billion and technical assistance projects worth $28.9 million.

Gvinadze & Partners is a leading Georgian business law firm. With its predecessor firms, it has nearly three decades of successful history of serving and promoting inward investment in Georgia, and is widely recognized as the highest quality legal service provider in the country.