Georgia: Supplemental Economic Management and Competitiveness Development Policy Operation (DPO) for COVID-19 Crisis Mitigation (AIIB-000417)

Countries
  • Georgia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Government of Georgia
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Sep 28, 2020

Disclosed by Bank May 28, 2020


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Project Description

According to AIIB website, the operation is proposed under the COVID-19 Crisis Recovery Facility (the Facility) of AIIB and co-financed with the World Bank (WB) in supplemental financing for the Economic Management and Competitiveness Development Policy Operation (EMC DPO) to help the Government of Georgia (GoG) cover an unanticipated financing gap that has arisen due to the impact of the COVID-19 outbreak and to sustain the momentum on the EMC DPO-supported reform program.

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
Contact Information

AIIB: Mehek Marwaha, Investment Operations Specialist

mehek.marwaha@aiib.org

WB: Mariam Dolidze, Senior Economist

mdolidze@worldbank.org 

Government of Georgia: 

Nikoloz Gagua & Ekaterine Mikabadze

Deputy Ministers
Ministry of Finance (MOF) & Ministry of Economy and Sustainable Development (MESD)

n.gagua@mof.ge

emikabadze@moesd.gov.ge

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.