MCC to assess results on the ground
28 October, 2010
MCC to assess results on the ground

To see progress on Georgia’s USD 395.3 million compact focused on rehabilitation of key regional infrastructure and developing of enterprises in rural Georgia, Daniel W. Yohannes, Chief Executive Officer of US government-supported Millennium Challenge Corporation (MCC) paid a 3-days visit to Georgia.
The MCC supported five-year compact of Millennium Challenge Georgia Fund (MCG) started in 2006 and is designed to reduce poverty and stimulate economic growth in region via five projects as following: energy infrastructure rehabilitation project, regional infrastructure development

project, Samtskhe-Javakhseti road rehabilitation project, Agribusiness Development Activity (ADA), and Georgia regional development fund project.
Via these five projects the USD 395.3 million compact will rehabilitate key regional infrastructure by improving transportation for regional trade, ensuring reliable supply of energy, and improving the delivery of regional and municipal services. In addition, the program will develop enterprises by funding investment and increasing productivity in farms, agribusinesses, and other enterprises to increase jobs and rural income.
The MCG compact nears to completion and MCC CEO visited Georgia to assess whether or not the money of US tax-payers is spent effectively. During his stay in Georgia from October 20 to 22 of 2010 Mr. Yohannes met with Mikheil Saakashvili, the President of Georgia, and Nika Gilauri, the Prime Minister of Georgia.
MCC CEO travelled to Kvemo Kartli and Samtskhe-Javakheti, southern regions of Georgia, to see progress on the road project. The MCC-funded Samtkshe-Javakheti Road Rehabilitation Project (of USD 203.5 million worth project) intends to improve the transportation network in two regions by rehabilitating 220 kilometres of road connecting central Georgia to Turkey and Armenia.
Samtskhe-Javakheti region, a famous tourist haunt [for the region is rich in historical monuments tracing back to early Christianity epoch]] as well as one of the potential parts of Georgia from agriculture and cattle breeding point of view has been completely torn from the other parts of Georgia due to absence of road infrastructure. Now it is supposed to be fully integrated in the social and economic life of the country after the 223-kilometers long road will be rehabilitated. And if one needs 9 hour to travel to the region in question at the moment, the time is expected to be cut down to 3 hours thus enabling local population to supply the rest part of Georgia with their high quality product on the one hand, and encourage tourists inflow to  the region famous with picturesque scenes as well.
The US Ambassador to Georgia John Bass, along with top Georgian officials and Millennium Challenge Georgia (MCG) CEO George Abdushelisvhili, accompanied the high guest in the trip. The delegation stressed on importance of Samtskhe-Javakheti region particularly.
“This is an important project. This is a Samtskhe-Javakheti road, a new road, which starts from Tbilisi and passes through Tsalka and reaches Samtskhe-Javakheti region… It also crosses two borders, of Ninotsminda and Kartsakhi. In fact, this road enables the Region to more actively involve in economic activities” , Kakha Baindurashvili, Minister of Finances of Georgia, stated at the Cave City of Vardzia press event on October 21, 2010.
According to the US Ambassador, activities carried out in terms of infrastructure and business development enables to witness direct benefit imposed to people of different regions of Georgia.
“I would particularly emphasize the Samtskhe-Javakheti region. After completing the [Samtkshe-Javakheti Road Rehabilitation] Project, the Javakheti population will be able to link to both the capital and the neighboring countries [Armenia and Turkey] that, in the end, will lead to Georgia’s growth,” he said. 
The delegation also visited agribusinesses and beneficiaries of MCG’s USD 20.2 million Agribusiness Development Activity located along the newly rehabilitated road and met the beneficiaries of the Borjomi and Bakuriani municipal water supply projects funded through the Regional Infrastructure Development Project (USD 57.7 million) managed by the Municipal Development Fund of Georgia.
The MCG initial compact was USD 295 million but USD 100 million was allocated in the wake of the August war of 2008 to support Georgia to shoot aftermaths of the war. And total budget became USD 395 million. Georgian Prime Minister who held a press conference at the Government Chancellery of Georgia after his meeting with the MCC CEO on October 22, 2010 accentuated that these funds have been used for implementation of number of important projects - for energy and road infrastructure rehabilitation, as well as for agriculture and small business development that create additional 3 thousand new jobs.
“This is a huge support of the US Government to the Georgian Government provided by MCC for the whole of this period and I would like to thank, first of all, Mr. Yohannes and everyone who has taken part in this Project”, Gilauri stated at press-conference on October 22, 2010.
The MCC CEO gave a positive assessment to the MCG compact implementation.
“I would like to thank the President of Georgia, the Prime Minister of Georgia and the whole Georgian government for all those results that I personally saw on the ground. For all these achievements I extend the gratitude on behalf of the President Obama and the US Government. The US grant funds were used for the road, energy, agriculture and small business development. Sustainability of the projects funded by us is guaranteed as long as beneficiaries, meaning people that we gave funds to, will continue receiving income from their businesses for additional 8 years”, Mr. Yohannes deduced.

Other Stories
Business Positive – Successful radio program from Radio Positive
Starting point of radio program Business Positive is to meet interesting people, communicate with them and deliver information that is interesting for the audience.
A factory of electric vehicles to be built in Kutaisi
Prime Minister Mamuka Bakhtadze stated that a factory of electric vehicles will be built in Kutaisi at the presentation of the Aigroup business group.
Qvevri-shaped hotel complex to be built in Telavi
A Qvevri-shaped hotel complex is scheduled to be built in the village of Shalauri in Telavi, Kakheti (east part of Georgia).
Georgian designers presented at Fashion World Tokyo 2019
The products of 11 Georgian designers are showcased at Fashion World Tokyo 2019,
Silknet raises $200 million in Eurobond issue
27 March 2019 - JSC Silknet (“Silknet”), one of Georgia’s leading telecommunications operators, has successfully priced a debut $200 million 5-year 11% senior unsecured bonds issue (the “Notes”).
Pistachio trees will be planted in Georgia
Dozens of hectares of Pistachio are planned to be planted in Georgia this year.
Toyota Safety Sense and Hybrid Technology
Toyota Caucasus, has presented two new models the 5th generation RAV4 and the 12th generation Corolla at Rustavi International Motorpark, several days ago.
Bidzina Ivanishvili “became number one oppressor of businesses in Georgia” - ICC Georgia chairman Fady Asly
Mr. Ivanishvili promised the business community to protect them from harassment and pressure, unfortunately his words died with the sunset of that day
The best brands of Belarus will be exhibited on a large-scale exposition in Tbilisi
"The Belarusians like to come to Georgia to relax near the sea in Batumi as well as to stay in sunny Kakhetia."
Don’t treat business like a hooker! - Georgian businessman Vasil Soprpmadze addresses politicians
Businessman Vasil Sopromadze, founder of the company "Fresco", addresses politicians
RAV4 No Compromise and Corolla Set to Impress – Two New Cars Presented by Toyota
Toyota Caucasus, the company constantly aspiring to greatness, has presented two new models the 5th generation RAV4 and the 12th generation Corolla.
Mamuka Khazaradze quits TBC bank, does not sell the TBC Bank share
I made a decision to leave TBC bank where I spent 27 years of my life
10 Reasons to buy an apartment in the suburbs
There is a tendency for Tbilisi dwellers to move from central parts of the capital to the suburbs.
Georgian citizens are granted the right to work in France
The French Embassy in Georgia made remarks on granting Georgian citizens the right to work in France
The New York Times: Bitcoin declines but Georgia still bet on it
The New York Times has recently published an article about reasons, challenges and causes of generating Bitcoin in the former Soviet country Georgia.
EU to allocate € 13 billion for Eastern Partnership countries, including Georgia
The European Union together with the World Bank plans to allocate investment worth € 13 billion for infrastructure projects in the Eastern Partnership countries.
Anaklia Port and its importance for Georgia
In 2016, Anaklia Development Consortium was authorized to launch the construction of Anaklia Port.
Cryptocurrency mining threatens electrical network in Abkhazia
In the breakaway region of Akbhazia rampant cryptocurrency mining is threatening the shaky electrical network, reports an article of the news portal EuroNet.
Caucasus Wine University to be opened in Gurjaani
In the Kakheti region a new viticulture campus of the Caucasus University is in the process of planning.
Photos describing life of the poorest in Georgia
Fight with poverty should be among top priorities of every government in every country.
Training farmers to rescue the organic hazelnut production in Georgia
Even drizzling rain and unpleasant gusts of wind can’t prevent the farmers from coming and participating in the agricultural training.
Bleak times for organic farmers in Georgia – but there is hope
Organic hazelnut production is a delicate plant in Georgia that has emerged just a couple of years ago. Various pests, among them the Asian stink bug Parosana, trouble hazelnut farmers and menace their livelihood – even before their businesses could really take off.
Hybrid car imports are going through the roof in Georgia
Thanks to their fuel economy, the popularity of hybrid cars is increasing in Georgia, where fuel affordability is low and prices for fuel are unstable.
The New Year offer from MAQRO Construction - Apartments with unbelievable discounts and the parking spaces for FREE!
Location, green yard, spaces for various needs, experience of the construction company and parking space are the main important criteria for potential buyers of apartments.
Interview with the co-founder of Kiwi Vegan Café – the first vegan place in Tbilisi
Behind the Kiwi Vegan Café stands a group of activists who wants to raise Georgian’s awareness for animal rights and welfare.
GEL Exchange Rate
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
April 2019
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30