Georgia - Forests for Resilience and Economic Transformation (FoRET) Project (WB-P169393)

  • Georgia
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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.
Voting Date
Mar 27, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Ministry of Finance
The holder of the loan, grant, or other investment.
  • Agriculture and Forestry
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 16, 2019

Disclosed by Bank Jun 28, 2019

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Project Description

According to the Bank's website, this project aims to improve the multipurpose management of and increase economic benefits from forests in targeted areas. This will entail three components:

1. Improving national capacity for multipurpose forest management and implementation by (i) ensuring adequate national level support for implementation of sustainable forest management and forest restoration / rehabilitation as well as forest control, and (ii) providing support to national level organisations to strengthen fire management, and develop multipurpose seeding capacity (nurseries)

2. Improving sustainable forest landscape management and law enforecement in target areas by investing in development and implementation of multipurpose forest management plans and forest restoration in target foest areas (including training and law enorcement and supervision) and support the establishment and management of Emerald Network sites (conservation areas throughout Europe)

3. Promoting economic growth and tourism through job creation in targeted areas

Specific environmental and social risks arise from the elimination of the 'social cutting' system, which provides 600,000 families with the right to harvest fuelwood under the supervision of the National Forest Agency. Additionally, the project will invest in infrastructure including 100-200km of new roads in targeted areas. 

Investment Description
  • World Bank (WB)
Contact Information

Borrower/Client/Recipient: Ministry of Finance; Nikoloz Gagua, Deputy Minister.

Implementing Agencies: Ministry of Environmental Protection and Agriculture; Carl Amirgulashvili, Head of Biodiversity and Forestry Department.


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