News Column

WB to finance irrigation and land market development project in Georgia

May 26, 2014

Tbilisi, Georgia, May 27

By Nana Kirtzkhalia - Trend:

The board of WB Executive Directors has approved a decision on financing Georgia's irrigation and land market development by the International Development Association in the amount of $ 50 million.

The project aims to develop irrigation and drainage systems in specific regions of Georgia, as well as improve the policy and procedures that are the foundation of a national land registration program, the Georgian office of the World Bank said.

The project has three components, namely, improving irrigation and drainage systems, land market development and project management.

As a result of the project implementation, around 31,000 families living in villages and cultivating 26,000 hectares of land, will get benefit by increasing the productivity. Moreover, approximately 19,000 families, who have unregistered agricultural land plots in the pilot areas chosen for the land registration, will take advantage of the improved rules and procedures as part of the project. They will also be provided with an opportunity to register their land plots.

"The project helps reduce the difference in terms of revenue growth and will contribute to the implementation of two main objectives of the World Bank - to reduce poverty and increase the general well-being," World Bank Country Director for the South Caucasus Henry Kerala said. "This will be achieved by increasing the productivity of farms, most of which relates to 40 percent of the poorest part of the Georgian population."

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Source: Trend News Agency (Azerbaijan)