GCC Says All Elements of Cooperation Available to Deepen Economic Ties with Georgia

Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi. GCC
Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi. GCC
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GCC Says All Elements of Cooperation Available to Deepen Economic Ties with Georgia

Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi. GCC
Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi. GCC

Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi affirmed that all elements of cooperation are available to deepen the economic and trade relations between the GCC countries and Georgia, paving the way for the signing of a free-trade agreement between the two sides.

His remarks came during a meeting with Georgia’s Deputy Prime Minister and Minister of Economy and Sustainable Development Levan Davitashvili on the sidelines of the 4th Tbilisi Silk Road Forum, held on Thursday in Tbilisi.

The secretary general stated that during the meeting, ways to develop the economic and commercial relations between the GCC countries and Georgia were discussed.

Davitashvili pointed out the noticeable development in Georgian-GCC relations over the past two years, expressing his wishes for further progress in all fields.



World Bank Redirects Funds Towards Lebanon Emergency Aid

Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
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World Bank Redirects Funds Towards Lebanon Emergency Aid

Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)

The World Bank announced on Thursday that it was redirecting funds originally earmarked for development programs in Lebanon towards emergency aid for people displaced by Israeli bombardment of the country.

"The World Bank is activating emergency response plans to be able to repurpose resources in the portfolio to respond to the urgent needs of people in Lebanon," said a statement from the US-based multilateral institution.

The multilateral institution currently has $1.5 billion in funding for programs in Lebanon. Part of this amount will be redirected.

Since September 23, more than 1,000 people have been killed in an Israeli air-and-ground campaign on Lebanon that has targeted armed group Hezbollah in the south and east of the country, with strikes expanding to include the capital Beirut.

Thousands have been displaced since the bombing began, and the funds would be used to provide aid to those populations, the World Bank said.

"This would include emergency support to displaced people that could be deployed through a digital platform the World Bank helped put in place during the Covid epidemic," the statement said.