The World Bank’s Board of Executive Directors approved today a €90 million loan to Georgia for the Innovation, Inclusion and Quality Project, which will support the development of human capital through greater access to preschool education, higher quality education, and improved learning environments.
“Georgia is committed to investing in its people,” said Mercy Tembon, World Bank Regional Director for the South Caucasus. “This project aims to support Georgia in accelerating investments in human capital to boost innovation, entrepreneurship and productivity in an increasingly competitive global economy. As an early adopter of the Human Capital Project, the project will also strengthen Georgia’s drive to build a strong foundation for promoting prosperity for all of its citizens.”
The project has five overall goals: (1) Expanding access to and improving the quality of early childhood education and care; (2) Fostering quality teaching and learning in general education; (3) Strengthening financing options and promoting internationalization in higher education; (4) System strengthening and stakeholder communication; and (5) Supporting project management, monitoring, and evaluation.
“These reforms will constitute a significant change in Georgia’s approach to education, and will help prepare the country for the labor market and economy of the 21st century,” says Soren Nellemann, World Bank Senior Economist and the Task Team Leader for the Project. “The focus on inclusion, quality and innovation in pedagogy and learning from pre-school to higher education will benefit all citizens.”
Citizens who will directly benefit from the project include children enrolled in both public and private early childhood education and care, students in general and higher education institutions, and school teachers, administrators and other staff employed in schools.