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Bruno Balvanera: Investors’ Appetite is Increased on GEL

Bruno Balvanera: Investors’ Appetite is Increased on GEL

Bruno Balvanera, EBRD Regional Director has declared on rising trend of GEL through 8 weeks. However, he expects its maintenance.

Bruno Balvanera noted with TV-company Maestro that local currency is strengthened by 2/5 through a month and half, which is important as it raises the trust. The result is clear – “investors’ appetite is increased on GEL”.

Blvanera focused attention on  solid performances of EUR and USD’s hegemony and noted, that it had been so everywhere, including his motherland –Mexico. However, as of the complex approaches, trust towards the local currency has been increased. The approaches include capital market development and accessibility of local currency for a long term.

According to him, European Bank is actively engaged in the process and noted on the final emission, which envisages placement of securities of USD 60 million. The bank already has a permit from NBG and they will issue in June.

Balvanera expects banks’ activity towards the crediting of small and middle business by the existence of long-term resource of GEL.

He considers that Georgian financial sector is configured, there is a high level of trust towards the banks, while the micro finance sector is active. However, the chief banker of European Bank noted, that leasing tool should be refined and must get more active.